Torrance, CA, June 7, 2007 - Toyota announced its one-millionth hybrid sale today. Another indicator that the glory days of the SUV are a thing of the past. Of the one million hybrid sales worldwide, more than half have been sold in the United States -- 541,210 from 2000 through April 2007.
"The cost benefit of hybrids is becoming more apparent with climbing gas prices," said Jim Lentz, Toyota Motor Sales, (TMS) executive vice president. "We anticipate combined sales of Toyota and Lexus hybrids of a quarter million units in the U.S. during calendar year 2007."
Despite earlier concerns that decreased tax credits from the IRS would dampen hybrid demand, Toyota continues to post record hybrid sales. Calendar-year-to-date hybrid sales for TMS totaled 119,154 units, an increase of 75 percent over the same period last year.
In May, TMS posted sales of 36,101 hybrid vehicles, up 102 percent over last May. Toyota Division posted sales of 34,174 hybrids, up 121 percent over the same period last year. Lexus Division posted sales of 1,927 hybrids.
As consumers begin the summer driving season with rising gas prices across the country, the benefits of hybrid technology’s cost-savings are translating into strong sales of Toyota Camry Hybrid and Toyota Prius. When comparing real-world hybrid transaction prices to non-hybrid prices and taking into account current rising fuel prices, Toyota hybrids are increasingly being seen as a good value not just a “do good” purchase.
Aside from the gas-savings to hybrid owners, the significant reduction in tailpipe emissions, as well as the reduction in foreign oil dependence, remains a factor among many buyers who say they are concerned about the environment.
According to a recent study by the National Renewable Energy Laboratory (NREL), hybrid vehicles have saved close to 215 million gallons, or 5.1 million barrels, of fuel in the U.S. since their introduction in 1999. Toyota, the market share leader in the hybrid segment, accounted for 66 percent of all hybrids sold in America during that period.
The company has calculated that global sales of hybrid vehicles since the introduction of Toyota's first hybrid in 1997, has meant that approximately 3.5 million fewer tons of CO2 were emitted when comparing emissions from gas-powered vehicles to hybrids of the same class.
Prius was launched in the Japan domestic market in 1997, and in the U.S. market as a 2001-model in 2000. In 2005, the Highlander Hybrid SUV debuted as a model year 2006. For the first time, the Toyota Camry added a hybrid option for model year 2007. In 2005 Lexus entered the hybrid fold with the launch of the world's first luxury hybrid, the RX 400h luxury sport utility vehicle.
Related Items:
