Toyota is catching up with consumer demand and expanding the Prius name. Toyota expects to import 122,590 Priuses this year, up from a previous forecast of 110,000, Toyota spokesman Bill Kwong said. Prius sales fell 12% last month in the USA, although they are down only 1.4% for the year, Autodata reports. For the first time since the current version of Prius went on sale in October 2003, there are enough to fill customer demand, Toyota (TM) Group Vice President Jim Farley says. Other market forces balancing out the supply and demand equation include:
• Reduced tax credits. On Oct. 1, the $3,150 federal income tax credit for buying a Prius was cut in half. On April 1, the subsidy will be halved again.• Lower gasoline prices. Gas prices have fallen from an August peak of $3.038 a gallon to $2.218 last week, the Energy Information Administration reports. That doesn't help sales of cars at the top of gas mileage charts. Prius has an Environmental Protection Agency rating of 60 miles a gallon in city driving.
• Increased competition. Automakers are adding a growing list of hybrid models. Besides Camry, Toyota offers hybrids in its Lexus line. Prius also faces off against a newer Honda Civic model and Nissan's first hybrid, an Altima.
http://www.usatoday.com/money/autos/2006-11-05-prius-usat_x.htm
Finding equity in the Prius name, Toyota may expand its hybrid offerings with a line of Prius cars.
http://www.bloomberg.com/apps/news?pid=20601101&sid=aTH02NpvgI9E&refer=japan
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