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(Updated:
February 2008) I
thought the
biggest story regarding the Toyota Prius hybrid car in 2007
was going to be what would happen
when tax credits for the Prius were fully expired? Would
sales slow? Sales
did not slow. In fact Toyota has experienced a
significant increase in the sales of the Toyota Prius in
2007, and one can only wonder how many more Prius hybrid
cars Toyota would be selling if tax credits were still
available. Nonetheless,
the Toyota Prius has become one of the Top 10 selling
cars in America. Not too bad for a niche. -->
Customized
your hybrid yet? In
early 2008, the Prius is again off to a good start, as
Toyota posted a large increase in Prius sales in January
2008 compared to January 2007. Has
Prius success been caused by high gas prices, greater concern for global warming,
or just the realization that the Prius is a great
vehicle, not just a hybrid vehicle? It
doesn't really matter. In 2008, gas prices are expected
to be higher than 2007 and the concern over global
warming is increasing. Therefore, Prius sales will
probably only increase. Part
of Toyota's hybrid success must also be attributed to
the incentives that Toyota has offered on the Prius.
For example, a fully loaded
Prius was discounted by $2,000.00 in 2007. The discount on
a base Prius, however, is only a few hundred dollars. In
addition, Toyota is 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. However, when I tried to
purchase a Prius recently, I was not offered these deals
in the Los Angeles area. In
fact, buying a Prius in LA is a far better deal than
buying a Prius. Does
the Prius save money? According
to a an 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 both
high, and when Toyota qualified for the full clean
vehicle tax credit. The last
data I saw, suggests that number has been pushed back to
over 4 years, however, with gas prices expected to hit
$4.00 in 2008, cost recovery will probably decrease. Moreover,
there is the possibility that Prius tax credits could be
extended at some point in time - 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, but sales didn't pick up
until 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.
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 third
generation 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!
For more information on
the Toyota Prius hybrid, Click here.
--Read
More about the Toyota
Prius on the Hybridcarblog.
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