Milford, CT

Milford, CT CNBC Why Toyota's new RAV4 is in such high demand 3 months 6 months Nancy Berman Toyota Customer It's a new grill. It's got the new grill on there. They ordered their new RAV4 in March, and six months later, they are still waiting to take delivery. The wait was a slight annoyance. It didn't stop us from going and doing, because we do have our other Toyotas to drive. It was worth the wait. Even though Toyota is gradually ramping RAV4 production, demand for the new model is so strong, dealers have only a few days supply in stock. In fact, most are turned over to customers who ordered them as soon as they're delivered to a dealership. Jessica Caldwell AVP, Insights Edmunds It's really unusual to see cars fly off lots like this. In fact, are just calling list to saying "Hey can you pick up the car now? It's ready for you." We don't see that You see that often with specialty cars that come along, you know, once in a, once every ten years. that exists in that very practical, very suburban, small midsize crossover segment. Two things are driving strong demand for the RAV4 right now. Rav4 U.S. unit sales 2022 399,941 2023 434,943 2024 475,193 2025 479,288 First, in recent years, the RAV4 popularity has steadily grown, hitting almost a half-million sold in the U.S. last year. Closing Bell | May 19, 2025 Mark Templin EVP and COO Toyota Motor North America Our dealers are selling through our inventory as fast as we can build it. This year, we'll built 200,000 more cars than we did last year. And the dealers are still going to sell right through it. with a ten day supply of cars, asking for more. Meanwhile, the spike in gas prices in the Middle East has created even greater demand for hybrid vehicles. This year, hybrids U.S. auto sales, Jan - July 2026 EVs 6.7% Hybrids 18.3% Internal combustion engines 75% account for almost one out of every five new vehicles sold in the U.S. Add in the fact Toyota has limited RAV4 production while it transitions to the new hybrid version, and you see why this model is in the sweet spot of the market right now.