Toyota Risks Losing Market Share Over Lack of Electric and Autonomous Vehicle Focus
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Toyota is not focusing enough on battery electric vehicles (BEVs), which consumers increasingly prefer over hybrids and hydrogen vehicles. This will cause Toyota to lose market share.
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Toyota is also not developing full self-driving technology, while consumers want and expect autonomous vehicles. This will further disadvantage Toyota.
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Even if Toyota eventually develops solid state batteries and uses them in electric cars, consumer preferences may have shifted to robotaxis by then, minimizing the advantage of the better batteries.
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Tesla is outpacing Toyota by offering the products and services consumers want now like BEVs and advanced driver assistance systems. Toyota largely promises future innovations.
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Due to these issues, Toyota risks declining market share, sales, revenue and profits over the long run compared to competitors like Tesla that lead in autonomy and BEV focus.