Toyota introduces its first hybrid Land Cruiser in this market. Check details
On Wednesday, Toyota revealed the initial hybrid edition of the Land Cruiser, which is intended for release in North America and other significant markets. The company aims to reestablish the prominence of this high-margin and iconic sports utility vehicle. As per Reuters, the car manufacturer has announced that it will manufacture the latest version of the brand, which has its origins dating back to 1951, along with a smaller recently unveiled version.
These vehicles will be produced at two Japanese factories and then exported to various international destinations. Toyota's official press release indicated that the upcoming model will be offered as a hybrid in the North American market. For other regions like Europe and Australia, Toyota plans to introduce the new Land Cruiser with options for gasoline or diesel powertrains.
According to Hiroki Nakajima, Toyota's chief technology officer, the company's objective is to fulfill customer requirements while simultaneously reducing overall carbon dioxide emissions. He stated that they would provide vehicles that align with customer needs. Seiji Sugiura, an analyst at Tokai Tokyo Research Institute, mentioned that Land Cruiser models, along with certain other vehicles like the Alphard van, are relatively large cars that bring higher profitability to Toyota.
"Land Cruisers and Alphards have a high profitability even under the Toyota brand," Sugiura said, adding that will go up further if models are sold under the Lexus brand. Toyota stated that the new Land Cruiser will be released in Japan during the first half of 2024 and will arrive in the United States in the spring of the same year. The suggested retail price in the United States will commence in the mid-$50,000 range.
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