Toyota's hybrid RAV4 is in demand as dealers wait for more supply
CNBC • • business
Key Points:
- Toyota is experiencing unusually high demand and limited inventory for its new all-hybrid RAV4, resulting in dealers having only a few days' supply of the vehicle.
- The RAV4 remains a top-selling model in the U.S., with nearly 480,000 units sold last year, ranking third behind the Ford F-150 and Chevrolet Silverado.
- Toyota's strategy to initially limit production of the new hybrid-only RAV4 has led to longer wait times for buyers, though loyal customers remain willing to wait.
- Despite limited RAV4 availability, Toyota's overall U.S. sales in 2026 have increased slightly by 0.3% through July, supported by strong brand loyalty and alternative model options.
- The shift to hybrids aligns with growing consumer interest amid elevated gas prices, with hybrids accounting for over 18% of U.S. vehicle sales in 2026.
