With the new 2024 Grand Highlander, which includes two gasoline hybrid options, Toyota expands its segment-leading three-row crossover lineup.
On February 7, the company unveiled the car as the sibling to the larger Toyota Highlander mid-size SUV/crossover. According to Toyota, it offers 13.2 more cubic feet of cargo space and is wider and longer than the Highlander.
As buyers spend record amounts on new cars, the vehicle is the latest illustration of automakers’ attempts to one-up themselves and test their pricing power. With supply chain issues continuing but improving, the average cost of a new car to start this year was close to $50,000. This is because automakers favor high-end vehicles over entry-level vehicles.
Pricing for the Grand Highlander has yet to be revealed by Toyota, but analysts expect it to be higher than comparable standard trims, which start between $36,000 and $51,000. When it hits dealerships this summer, it will be available in three trim levels.
The Ford Explorer, Chevrolet Traverse and other more popular mid-size SUVs/crossovers are among the vehicles the Grand Highlander will compete against. Sales of these vehicles are expected to increase 4% between 2018 and 2022 as Americans move away from large sedans and other types of automobiles.
Nearly 223,000 Highlanders were sold last year, making it one of Toyota’s best-selling models. Only the Toyota Camry car and the RAV4 small crossover outsold it in terms of sales. The Grand Highlander isn’t expected to be a high-volume product, but the firm says it “rounds out” Toyota’s crossover lineup and offers buyers additional options.
According to Toyota, 13 cupholders and seven USB-C charging ports will be distributed across the Grand Highlander’s three rows, along with a host of active safety and convenience features.
Toyota intends to spend about $70 billion over nine years on electrified vehicles, of which $35 billion will go toward all-electric battery solutions. By 2025, it hopes to have around 70 electrified vehicles worldwide.
Ultimately, the world’s largest manufacturer, Toyota, intends to sell a third of its current annual sales by 2030, or roughly 3.5 million, of all electric vehicles.
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