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Will Toyota's New EV Launches Boost Its Market Position?
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Key Takeaways
Toyota showcased five 2026 electrified models at its Unplug and Drive event in Quebec.
Toyota expects 21 electrified models by 2026- end, including four battery-electric vehicles.
TM previewed the 2027 Highlander EV, its first three-row EV built in North America.
Toyota Motor Corporation (TM - Free Report) is expanding its zero-emission vehicle (ZEV) portfolio in 2026, reinforcing its position as a full-line automaker with a broader lineup of battery-electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). To showcase its latest electrified offerings, Toyota Canada hosted the “Unplug and Drive” event in Quebec from June 2-5, where automotive journalists from across Canada tested the company’s newest electrified models.
Quebec, which accounts for more than one-third of Toyota’s BEV and PHEV sales in Canada this year, was selected as the venue due to its strong adoption of ZEVs. Electrified vehicles, including hybrids, plug-in hybrids and BEVs, have represented 64% of Toyota’s total Canadian sales in 2026.
Per Steve Pilkey, vice president of Sales and Marketing at Toyota Canada, the company’s multi-pathway electrification strategy gives consumers a range of powertrain choices. Toyota has put more than 660,000 electrified vehicles on Canadian roads and expects to offer 21 electrified models by the end of 2026, including hybrids, plug-in hybrids and four battery-electric vehicles.
Toyota has been a leader in vehicle electrification for nearly three decades. Its journey began with the RAV4 EV in 1996, followed by the launch of the Prius hybrid in 1997, the Prius Plug-in Hybrid in 2012, the RAV4 Prime in 2021 and the bZ4X in 2023. Globally, Toyota has sold more than 35 million electrified vehicles and remains Canada’s top seller of electrified models. At the event, journalists evaluated five key models, including the 2026 Toyota C-HR, 2026 Toyota bZ, 2026 Toyota bZ Woodland, 2026 Toyota RAV4 Plug-in Hybrid and 2026 Toyota Prius Plug-in Hybrid Nightshade, showcasing the breadth of Toyota’s ZEV lineup.
The 2026 Toyota C-HR is an all-new BEV that combines sporty styling, engaging performance and practicality. Available in three trims starting at $44,900, it offers up to 496 km of range in front-wheel-drive form or up to 338 horsepower with all-wheel drive.
The 2026 Toyota bZ is Toyota’s refreshed compact electric SUV, featuring updated styling, increased performance, faster charging and up to 486 km of range. Offered in three trims, pricing starts at $45,990.
The 2026 Toyota bZ Woodland is designed for adventure-oriented drivers. This new electric SUV delivers up to 452 km of range, 375 horsepower, standard all-wheel drive, a 3,500-pound towing capacity and generous cargo space. Pricing starts at $59,900.
The 2026 Toyota RAV4 Plug-in Hybrid is the latest version of Canada’s best-selling passenger vehicle and uses Toyota’s sixth-generation plug-in hybrid system, producing 324 horsepower and up to 89 km of all-electric driving range. Available in four trims, including the new GR SPORT variant, pricing starts at $48,750.
The 2026 Toyota Prius Plug-in Hybrid Nightshade is a special edition that adds distinctive black styling elements while maintaining up to 72 km of electric range and a combined fuel efficiency of 4.5 L/100 km. The Prius PHEV lineup starts at $40,050.
Participants also previewed the all-new 2027 Toyota Highlander EV, Toyota’s first three-row electric SUV and the company’s first mass-market BEV built in North America. Available in both front- and all-wheel-drive configurations, it is expected to offer up to 511 km of range and will arrive at Canadian dealerships later this year.
The Zacks Consensus Estimate for GELHY’s 2026 sales and earnings implies year-over-year growth of 77.1% and 40.3%, respectively. The EPS estimate for 2026 and 2027 has improved 18 cents and 7 cents, respectively, over the past 30 days.
The Zacks Consensus Estimate for PLOW’s 2026 sales and earnings implies year-over-year growth of 16.7% and 3.9%, respectively. The EPS estimate for 2026 and 2027 has improved 39 cents and 29 cents, respectively, over the past 60 days.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 5.6% and 20.4%, respectively. The EPS estimate for 2026 has improved 12 cents over the past 60 days, while the EPS estimate for 2027 has improved a penny over the past 30 days.
View the Zacks #1 Rank List
Image: Bigstock
Will Toyota's New EV Launches Boost Its Market Position?
Key Takeaways
Toyota Motor Corporation (TM - Free Report) is expanding its zero-emission vehicle (ZEV) portfolio in 2026, reinforcing its position as a full-line automaker with a broader lineup of battery-electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). To showcase its latest electrified offerings, Toyota Canada hosted the “Unplug and Drive” event in Quebec from June 2-5, where automotive journalists from across Canada tested the company’s newest electrified models.
Quebec, which accounts for more than one-third of Toyota’s BEV and PHEV sales in Canada this year, was selected as the venue due to its strong adoption of ZEVs. Electrified vehicles, including hybrids, plug-in hybrids and BEVs, have represented 64% of Toyota’s total Canadian sales in 2026.
Per Steve Pilkey, vice president of Sales and Marketing at Toyota Canada, the company’s multi-pathway electrification strategy gives consumers a range of powertrain choices. Toyota has put more than 660,000 electrified vehicles on Canadian roads and expects to offer 21 electrified models by the end of 2026, including hybrids, plug-in hybrids and four battery-electric vehicles.
Toyota has been a leader in vehicle electrification for nearly three decades. Its journey began with the RAV4 EV in 1996, followed by the launch of the Prius hybrid in 1997, the Prius Plug-in Hybrid in 2012, the RAV4 Prime in 2021 and the bZ4X in 2023. Globally, Toyota has sold more than 35 million electrified vehicles and remains Canada’s top seller of electrified models. At the event, journalists evaluated five key models, including the 2026 Toyota C-HR, 2026 Toyota bZ, 2026 Toyota bZ Woodland, 2026 Toyota RAV4 Plug-in Hybrid and 2026 Toyota Prius Plug-in Hybrid Nightshade, showcasing the breadth of Toyota’s ZEV lineup.
The 2026 Toyota C-HR is an all-new BEV that combines sporty styling, engaging performance and practicality. Available in three trims starting at $44,900, it offers up to 496 km of range in front-wheel-drive form or up to 338 horsepower with all-wheel drive.
The 2026 Toyota bZ is Toyota’s refreshed compact electric SUV, featuring updated styling, increased performance, faster charging and up to 486 km of range. Offered in three trims, pricing starts at $45,990.
The 2026 Toyota bZ Woodland is designed for adventure-oriented drivers. This new electric SUV delivers up to 452 km of range, 375 horsepower, standard all-wheel drive, a 3,500-pound towing capacity and generous cargo space. Pricing starts at $59,900.
The 2026 Toyota RAV4 Plug-in Hybrid is the latest version of Canada’s best-selling passenger vehicle and uses Toyota’s sixth-generation plug-in hybrid system, producing 324 horsepower and up to 89 km of all-electric driving range. Available in four trims, including the new GR SPORT variant, pricing starts at $48,750.
The 2026 Toyota Prius Plug-in Hybrid Nightshade is a special edition that adds distinctive black styling elements while maintaining up to 72 km of electric range and a combined fuel efficiency of 4.5 L/100 km. The Prius PHEV lineup starts at $40,050.
Participants also previewed the all-new 2027 Toyota Highlander EV, Toyota’s first three-row electric SUV and the company’s first mass-market BEV built in North America. Available in both front- and all-wheel-drive configurations, it is expected to offer up to 511 km of range and will arrive at Canadian dealerships later this year.
TM’s Zacks Rank & Key Picks
Toyota currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Geely Automobile Holdings Limited (GELHY - Free Report) , Douglas Dynamics, Inc. (PLOW - Free Report) and Garrett Motion Inc. (GTX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GELHY’s 2026 sales and earnings implies year-over-year growth of 77.1% and 40.3%, respectively. The EPS estimate for 2026 and 2027 has improved 18 cents and 7 cents, respectively, over the past 30 days.
The Zacks Consensus Estimate for PLOW’s 2026 sales and earnings implies year-over-year growth of 16.7% and 3.9%, respectively. The EPS estimate for 2026 and 2027 has improved 39 cents and 29 cents, respectively, over the past 60 days.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 5.6% and 20.4%, respectively. The EPS estimate for 2026 has improved 12 cents over the past 60 days, while the EPS estimate for 2027 has improved a penny over the past 30 days.