Toyota: Katrina drove up hybrid demand
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Toyota: Katrina drove up hybrid demand
Toyota Motor Corp. has seen a rise in demand for hybrid vehicles in the United States in the aftermath of Hurricane Katrina as consumers seek more mileage out of $3-gallon gasoline, a top official said on Thursday. "At the end of last month, we had a 20-hour supply of the Prius (hybrid sedan)," Jim Press, head of Toyota's U.S. operations, said at the Reuters Autos Summit, held in Detroit. "We no longer count in days."
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Re: Toyota: Katrina drove up hybrid demand
Press said those price premiums would come down to as little as $1,000, probably in the next decade, as per-unit production costs fall with growing volumes. He noted that a hybrid Highlander now costs an extra $3,800 to $3,900.
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