Toyota Prius may not reach sales target in 2013 due to lower gas prices

Article by Christian A., on April 24, 2013

Gas prices this year have been low compared to last year’s prices, prompting Toyota to make adjustments to its 2013 sales projections for the three-vehicle Prius hybrid range, according to a Bloomberg report. In California, the Toyota Prius family is one of the most in-demand cars but how it fares in the other states mostly depend on the prices of fuel.

Toyota had estimated that over 250,000 units of the Prius will be sold in 2013, which is higher than how many it sold in 2012. But in the first quarter, sales of Prius-branded vehicles fell by 8.4%. Nevertheless, sales for other Toyota and Lexus hybrid models grew by 2.4%. Jim Lentz, Toyota’s North American CEO, remains optimistic.

He said that there are more than 2 million Toyota hybrid owners in the U.S., majority of whom are return customers. He added that Toyota doesn’t think that Ford’s hybrid offerings pose any threat to it. Because of the slowdown in Prius demand, the start of Prius production in the U.S. may also be postponed. It’s believed that the Prius will be produced at its newly opened Mississippi facility, which presently builds the Corolla compact sedan.

If you liked the article, share on:

Comments

Recommended

Hyundai is introducing a new 2018 Accent that is not only wider and longer, but is now also sporting a new look that is more serious than the previous model....
by - February 20, 2017
Fans and enthusiasts of the BMW M2 in the United States could now rejoice. This comes as their favorite BMW M2 is getting a limited edition version as prepped by...
by - February 20, 2017
Carmakers usually leave us thirsty for information on whether they would introduce a new, refreshed or face-lifted vehicle and on when they intend to launch it. There are reasons for...
by - February 20, 2017
Cadillac’s CT6 full-size prestige-luxury sedan is still somewhat new. It has been offered to the global auto market for two model years – 2016 and 2017. But for those who...
by - February 19, 2017
In many industries, it is the rivalries that make things exciting. In basketball for example, there is the well-known rivalry between the Los Angeles Lakers against the Boston Celtics. For...
by - February 19, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries