Journal of East Asia Management

Institute of Management Research, Pusan National University (부산대학교 경영연구원)
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Prospects of Japan's Electronic Vehicle Market: An Analysis Through Toyota Motors' Hybrid Vehicle Deployment

도요타의 하이브리드 자동차 보급 사례 분석을 통한 일본 전기자동차 시장에 대한 전망

  • Received : 2024.02.05
  • Accepted : 2024.02.28
  • Published : 2024.02.28
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Abstract

About 100 years after the start of mass production by American car maker Ford in 1913, the automobile industry has come to a major transformation in 100 years. In this transformation period, automakers are facing the biggest challenge of converting power sources, the basis of automobiles, from existing internal combustion engines to electric vehicles. Hybrid vehicles have been released in Japan since the late 1990s, and changes in automobile power sources have occurred early. In order to gain global leadership in hybrid vehicles, Japanese automakers and the Japanese government joined forces to promote the growth of the domestic hybrid vehicle market. The government has implemented a policy to substantially subsidize the high price of hybrid cars compared to internal combustion engine cars by providing purchase subsidies and tax benefits to buyers. Toyota has increased its line-up of hybrid cars around the Prius and has further strengthened communication with customers for the sale of hybrid vehicles. As a result of continuing these efforts for about 20 years, the percentage of Japan's hybrid vehicle market in 2022 reached 51% for passenger cars. Recently, each country has been setting and promoting aggressive goals for electric vehicles that require a wider range of physical and institutional infrastructure than hybrid vehicles. This study aims to assess the growth of electric vehicles by looking at the trend of hybrid vehicles and how they've been distributed in the Japanese market.

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