Prius Ditches Waiting List, Offers Incentives
by Jasmin Malik Chua, Jersey City, USA on 02.11.07
While Toyota's hybrid-electric Prius has been practically selling itself, with more buyers than Toyota has cars, sales have evened out just as the carmaker is able to boost production, according to the New York Times.
So, starting in April, Toyota will be showcasing the Prius in its first advertising campaign since the hybrid was introduced to the U.S. in 2000.
Hybrid-huggers can also look forward to incentives on the Prius—another first—including some no-interest financing and lease deals of as low as $219 per month.
What a difference four months makes. When gas prices spiked above $3 a gallon last October, Toyota had only a three-hour inventory of Prius cars, says James D. Farley, Toyota vice president of North American marketing. Then, as gas prices dropped, inventories climbed to a 30-day supply in January. Confusion about hybrid technology, along with the usual doubts of whether you'll really save enough on gas to make shelling out all that extra cabbage worthwhile, also resurfaced.
From the New York Times:
The situation is of particular concern now that Toyota can build more Priuses, which had been produced in limited numbers in Japan. Speaking at the Chicago Auto Show, Mr. Farley said Toyota might be able to get as many as 170,000 Priuses to sell in the United States this year, a potential increase of 70 percent.But to reach that level, Toyota needs to do more to generate demand. “This is the challenge that keeps me up at night about Prius,” Mr. Farley said.
Another concern that will have Farley reaching for the Ambien by year's end: The EPA's new fuel economy ratings are set, on many vehicles, to fall by about 10 to 25 percent. Mileage ratings for hybrid electric vehicles will drop the most, by about 30 percent, from the current rated 60 miles per gallon in city driving to about mid-40 miles per gallon. ::NYT
Thirsty for more? Check out these related articles:
- Chrysler To Ax Two Hybrid Models
- Can Obama's Monster Limo Be a Hybrid? Yes It Can!
- Toyota: It's Lonely At The Top, Gets Credit Rating Lowered
- Bolivia's Lithium Reserves Could Power Electric Car Boom
Architecture 2030 and NY Academy of Sciences Call on Colleges To Cancel Classes!
|
What's In The Pipeline? Hydrogen.
|
If Toyota is resorting to these incentives, surely it's a sign that the market demand for this sort of vehicle is nearly saturated.
"If Toyota is resorting to these incentives, surely it's a sign that the market demand for this sort of vehicle is nearly saturated."
Or that competition is starting to arrive and they are not the only game in town anymore...
I's more of the Tax break running out. That really helped move the vehicles.
My wife is looking for a new car now and sadly anything like the Prius was dropped off the list due to lack of third row seating. I know many people complain about SUV's but those are becoming the only vehicle where you can get third row seating (except for a minivan which has too many other design problems, I've been there once, won't do it again). Toyota needs to stretch the back end of the Prius out a little bit and add the third row. That seat doesn't even need to fit adults, it just needs to be there so that family of 4 can take a friend or two hopme for a sleep over. Sure it might get 50mpg instead of 60 but its still better than anything that is out there. And by the way Toyota, IMSpeak might be cool on IM but not on your ads. When you advertise its Miles Per Gallon, not mpg's, saying mpg's is like saying LOL in normal conversation. It least just say mpg since gallons isn't the word thats plural.
If Toyota would produce an all electric car for under $20k you wouldn't see any market saturation until about 30 million vehicles were sold worldwide.
Prius sales have dipped because of several factors. Lower fuel prices, market saturation and simply that it's not the latest thing any more.
This article in the Detroit news has it right if you really want to change peoples vehicle buying, Tax 'em. Tax the fuel and tax big engines. http://www.detnews.com/apps/pbcs.dll/article?AID=/20070212/AUTO02/702120340/1148/AUTO01 Caution it's not exactly a totally green friendly story.
I was at the Chicago auto show on 2/11/2007 and it seemed overall that big trucks and SUVs still ruled including at Toyota where the pickup took center stage.
It seems most 3 row vehicles are still either SUV or minivan. Ford had the Freestyle AKA Taurus X that was shorter in hight (lower roof, didn't have to climb up into it since it's based off a car platform and not an truck as in many SUV) but that was it. I don't know where all the other car based 3 row crossovers were.
Arthur, I'm sorry but I doubt you'll see such a thing. The costs of the batteries and related controlers would likely keep the price well above that for anything with a useful range. Also don't believe that any company is so magic that well if they make product X it'll sell. It'll only sell if people want to buy it. I'm sure many automakes are looking at the market demand for electic cars and if it looks like it's worth it they'll pull the trigger. Any company working on hybrids is automatically going to have the tech for an electric car. Batterys, controlers etc. I think something like the Chevy Volt concepts drivetrain is more of a winner. 40 mile all electric range and a generator to keep you going and charge batteries.
what's interesting too, toyota and a few other of the carmakers have been coming under fire for their winter protection features and packages. at least anecdotally many have received complaints about those features not working or working ineffectively. yet at the same time toyota and others charge quite a lot extra for these so-called safety features.
in some hybrids apparently some of the complaints have been particularly loud.
the other day i came across a comment/rant thread on the whole winter safety feature on some website. it was amusing, but also telling, i think. the site is: burbia.com. think the link for the thread/rant is: http://www.burbia.com/node/789
i own a prius. thinks it's good overall. but on ice and hard snow it's horrible. am interested to see ultimately how toyota and other car cos respond to the chorus of complaints.