Toyota, the world's largest automaker by sales, has unveiled the first hybrid version of its iconic Land Cruiser, marking a significant update to the sports utility vehicle. The new model, which will be produced at two factories in Japan, will be offered as a hybrid in North America. Additionally, Toyota plans to release the new Land Cruiser with gasoline or diesel powertrain options in other markets, such as Europe and Australia. The announcement reflects the company's strategy to meet customer demands while reducing carbon emissions.
Hiroki Nakajima, Toyota's chief technology officer, emphasized the company's commitment to offering vehicles that resonate with customers' desires, while also focusing on lowering carbon dioxide levels. The high-margin Land Cruiser and other models like the Alphard van contribute significant profitability to Toyota, a benefit that's expected to increase if these models are sold under the Lexus brand.
The newly revamped Land Cruiser is slated to become available in Japan in the first half of 2024, with the U.S. release set for the spring of the same year. In the U.S., the suggested retail pricing will start in the mid-$50,000 range. This marks a substantial investment by Toyota in re-establishing the Land Cruiser as a key player in the automotive market, with various versions tailored to different international preferences.
This new hybrid model signifies Toyota's continued innovation and adaptation to market demands and environmental considerations. The Land Cruiser, along with Lexus luxury SUVs, has been a significant product for Toyota, with 11.3 million units sold as of last month. By offering both hybrid and traditional powertrain options, Toyota aims to balance modern environmental concerns with diverse global market needs.
