Toyota discontinued the Venza primarily because its SUV lineup was becoming too crowded, leading to its replacement by the new SUV-styled Crown. The Venza will be dropped after the 2024 model year, concluding its run just after its fourth anniversary.
The Primary Reason for Discontinuation
The decision to discontinue the Toyota Venza stems from the company's strategic move to streamline its sport utility vehicle (SUV) offerings. With a growing array of crossovers and SUVs, Toyota recognized that its lineup was becoming overly saturated. The introduction of new models, specifically the Crown Signia, directly contributed to the Venza's retirement.
Context: A Crowded SUV Market
Toyota has been rapidly expanding its SUV and crossover portfolio to meet diverse consumer demands. While this provides customers with a wide range of choices, it can also lead to internal competition and redundancy within the brand's own offerings. The second-generation Venza, which debuted in 2020 as an all-hybrid crossover, found itself in a crowded segment that includes popular models like the RAV4, Highlander, and the newer Crown Signia.
- Growing SUV Portfolio: Toyota's SUV lineup has expanded significantly.
- Internal Competition: Too many models in similar segments can cannibalize sales.
- Strategic Streamlining: The decision reflects an effort to optimize the product line.
The Venza's Successor
The role previously held by the Venza is effectively being filled by the SUV-ified Crown, referring to the Crown Signia. This new model is designed to cater to the demand for stylish and versatile utility vehicles, taking a similar premium-oriented, hybrid-only approach that the Venza adopted. The Venza's relatively short four-year lifespan for its second generation highlights Toyota's agility in adjusting its product strategy to market dynamics and internal portfolio management.
| Model | Key Characteristic | Status After 2024MY |
|---|---|---|
| Toyota Venza | All-hybrid crossover | Discontinued |
| Crown Signia | SUV-ified Crown, hybrid | New Replacement |
