The company had sold 1.047 million hybrid vehicles including the Prius and Lexus LS600h by the end of May. Demand for hybrid cars is helping Toyota Motor Corp.’s sales gain in the US, the world’s largest auto market, because higher fuel costs prompt consumers to pick more fuel-efficient vehicles including hybrids. Toyota plans to sell 1 million hybrid cars annually in the early 2010s.”Toyota is a dominant in the hybrid market,” said Koichi Ogawa, who helps oversee $28 billion at Daiwa SB Investments Ltd. in Tokyo.
„It will continue for a while because of rising gas prices.” Sales of Toyota’s most popular hybrid car, the Prius, tripled to a record 24,009 last month in the US, ranking it ninth among all vehicles. The surge helped Toyota sell 269,023 cars and light trucks in May, a record for the month. A hybrid vehicle combines a conventional gasoline engine with an electric motor. The motor powers the vehicle at low speeds, and the gasoline engine kicks in as the car gains speed. The motor’s battery pack is charged by the gasoline engine and by power regenerated by the brakes. (bloomberg.com)
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