Toyota plans to sell 1 million hybrid vehicles

While launching two new hybrid models of its Harrier and Kluger sport utility vehicles in Tokyo yesterday, Toyota President Fujio Cho stated, "In the future we would like to sell one million hybrid vehicles a year."

Cho didn't provide a timeline, other than to say that this year the company hopes to sell 300,000 hybrids. Currently, the Toyota Prius is the only hybrid car available from Toyota in the U.S.

"The two models are to be put into markets in North America, Europe and Oceania between April and June," said Cho. The Harrier, which will be called the Lexus RX400h in the U.S. is due out in April, while the Toyota Highlander hybrid (Kluger) should be available in June.

Toyota is planning to sell 50,000 of its new hybrid vehicles per month globally.