Prius Sales 2007

Still Leading the Hybrid Market

The Toyota Prius in terms of sales, is still the most popular hybrid representing just over 50% of the hybrid market in 2007 in the USA. Prius sales were boosted when Toyota offered incentives of up to $2000 after the car became ineligible for the government tax rebates. Toyota also stepped up marketing efforts and offered its first low-interest loan and lease incentives on the model.

Prius sales jumped 69 per cent in 2007 to a record 181,221 units, making it No. 8 among car models in the U.S., not bad for a car that was only designed to test the hybrid market!

Nine new hybrid vehicles were released to the American market in 2007, with competition expected to further intensify as new releases hit the market in coming years. A new Prius is expected some time in 2009.

Currently hybrid sales make up an estimated 2.2% of U.S. new-vehicle sales, estimated in December of 2007. Sales are expected to reach 4%-5% by 2010, which in the U.S. represents roughly 750,000 vehicles.

Projecting figures for hybrids is difficult with many market forces at work. If hybrid car prices continue to come down as production increases and the price of oil continues to rise, then the range of hybrids (standard hybrids as well as PHEVs, hydrogen and E85 models) could grab up anything up to 10% of the new car market in the foreseeable future.

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