08:34 AM EDT, 08/15/2024 (MT Newswires) -- Toyota Motor ( TM ) plans to evaluate each Toyota ( TM ) and Lexus model for possible conversion to "hybrid-only models," Reuters reported Thursday, citing company executives.

"Going forward, we plan to evaluate, carline by carline, whether going all-hybrid makes sense," Reuters quoted David Christ, head of sales and marketing for Toyota ( TM ) in North America, as saying.

The automaker plans to conduct these assessments during each model redesign, if not sooner, Reuters said.

Toyota ( TM ) is likely to drop the gasoline-only model for the North American market, though a final decision has yet to be made, two people familiar with the product planning discussions reportedly told Reuters.

The automaker is no longer offering the gasoline-only version of the Camry for the 2025 model year while the Land Cruiser and Sienna come only as hybrids, the report said.

Shares of Toyota ( TM ) were up more than 2% in recent premarket activity Thursday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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