Toyota Cuts 2026 EV Sales Target to 1 Million Units

Toyota has revised down its global battery electric vehicle (BEV) sales target for 2026 from 1.5 million units to 1 million units—a reduction of one-third. The adjustment is primarily driven by challenges in the North American market, where its EV business reported a loss of $1.21 billion. Despite the lowered target, it remains significantly higher than Toyota’s 2023 global BEV sales of approximately 104,000 units, which accounted for about 1% of its total sales. The newly appointed head of North America plans to streamline the product lineup to protect profit margins.