The Japanese firm has set ambitious growth targets for the European market, with the goal of selling 1.4 million vehicles a year by 2025, an increase of around half a million from current levels.
Toyota has renewed and refreshed much of its line-up in recent years and will expand its SUV range with the launch of the new Yaris Cross compact crossover and by introducing the large Highlander to the market for the first time. They will join the Toyota C-HR, RAV4 and Land Cruiser off-roader in the brand’s high-riding line-up, with a RAV4-sized EV due to be revealed next year.
But Matthew Harrison, Toyota's Europe vice-president, told Autocar the range will grow further in the next five years, with a key target being a new model that will sit between the C-HR and Toyota RAV4.
“There are parts of the market we’re not covering, particularly with SUVs,” said Harrison. “Some of the segments are growing so big they are almost sub-divided, providing other opportunities for us to cover. If you look at the compact C-SUV segment, we’re going a good job with C-HR, but we’re playing at the top end with people buying the car for emotional or design reasons, and there’s a whole part of the segment we’re not really covering.
“The Yaris Cross is developing firmly for the [smaller] B-SUV segment. Certainly, both below and above B-SUV, there continue to be opportunities. Certainly, there are opportunities for Toyota, particularly with crossovers and SUVs.”
Toyota has committed to offering an electrified option on every new model, deploying hybrid, plug-in hybrid, electric and hydrogen technology to meet the demand in each segment.
Although Toyota has put a major focus on its SUV models to meet the most popular market segment, it has also developed a range of performance models under its Gazoo Racing brand, with the GR Toyota Supra and GR Yaris set to be joined by the still unconfirmed GR86 next year.