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(Updated:
February 2007) The
biggest story regarding the Toyota Prius hybrid car in 2007 will be what happens
when tax credits for the Prius are fully expired? Will
sales slow? Will Toyota add more incentives? Will
the government extend the tax credit program for Toyota? When the credit was cut in half in late 2006,
sales slowed for the later half of that year. However,
Toyota posted more than a 4 percent increase in Prius
sales in January of '07 compared to the previous
January. So, the Prius is off to a good start for 2007. Still,
gas prices will probably have a very significant effect
on Prius sales, especially if they go higher. If not,
most analysts expect Toyota to miss sales projections
for the Prius. Of course, 'experts' have underestimated
the Prius since its inception. In
order for Toyota to achieve a significant increase in
Prius sales for 2007, Toyota has now begun to offer
incentives to Prius buyers. As a result, Toyota is now
offering leases on the Prius for as low as $219 per
month. Or, you can finance the sale of a new Prius with
no interest for 2 years. Does
the Prius save money? According
to a Edmunds.com
study, the Toyota Prius can recover its hybrid
technology costs in just three years. Of course, this
study was carried out when both gas prices were higher
and when Toyota qualified for the full clean
vehicle tax credit. So, it will certainly take more
than 3 years to offset the extra hybrid costs now,
unless gas prices rise significantly higher. Moreover,
there is the possibility that Prius tax credits could be
extended sometime this year - a move that both the
President and members of Congress from both parties have
proposed. Hybrid
power
Prius, from the Latin
"to go before" was Toyota's first hybrid
vehicle to be sold in the U.S. and the car has
increased sales consistently and regularly, forcing long
wait times for buyers during most of the existence of
the Prius.
Fortunately,
Toyota has been able to increase its Prius production
capabilities, which has made the Prius more available
than ever. Overall, it
used to take 8 days
for a Prius to sell once it hit the lot, now that that
time has been extended to about 30 days. Finally,
consumers now have some real choices when shopping for a
Prius.
Some
dealers are also still adding dealer fees to the MSRP,
although Toyota has asked dealers not to do this (Click
for more information on how to approach buying a Prius).
So, don't
be afraid to shop around when seeking to buy a Prius.
Toyota
announced that it would produce 100,000 Prius hybrid
cars for the U.S. auto market in 2005, more than twice the
availability for 2004. In 2006 that number was about the
same, due to production limitations.
For 2007
Toyota plans to build almost 200,000 Prius hybrid cars
for the U.S. market.
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"94
percent of Prius owners would buy another
Prius" |
The Prius, originally
launched in 1997, achieved sales of 53,991 in 2004, when
Toyota launched its second generation Hybrid Synergy
Drive.
That year the Prius moved
up to the midsize
category, and increased its cargo volume by
almost 30 percent over the previous year, while also improving
it's fuel efficiency to 55 miles per gallon - according
to the EPA.
Since that
change, each new Prius model year has not changed
significantly, although new features are regularly
added, such as extra sidebags and 'sport' editions.
In the
future the Prius might even come in different versions,
such as a smaller city Prius.
The
Prius, one of the most aerodynamic
production cars ever produced, runs on its new high-voltage "Hybrid Synergy
Drive," which combines a 1.5-liter four-cylinder
engine (producing 78 horsepower and 85 pound-feet of
torque) with a new 67-hp electric motor powered by 500
volts versus the previous 273.
This new motor provides quicker acceleration
and can zip from zero to 60 miles per hour in 10.5 seconds.
Additionally, according to Toyota
Press Releases, the hybrid Prius produces nearly 90 percent
fewer smog-forming emissions than a conventional internal
combustion engine.
In a few
years, the Prius will be built upon the third generation
of Toyota's Hybrid Synergy Drive, a move that could
almost double the fuel efficiency of the Prius, while
significantly reducing hybrid costs.
Still, for a car priced in
the mid-twenties, the Prius isn't too bad today!
>>
Click here to receive future information on the Toyota Prius
Hybrid.
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