After having announced that they’ve sold a total of five million hybrids, almost two million of which in the U.S., Toyota now says that falling gas prices may affect sales of their green models in general, and the Prius family in particular. They were planning to sell some 250,000 examples Stateside this year, but the target may not be reached, and they may have to adjust their outlook accordingly –236,659 units were sold in 2012, so the figure is not out of reach.
The information comes from Toyota North America CEO, Jim Lentz, who told Bloomberg News that as gas prices come down, people are less inclined to shell out on a hybrid. It is explained that in the same manner in which sales of thirsty cars, like SUVs, trucks and performance vehicles suffer when gas prices go up, so do those for purpose-built frugal cars when fuel becomes cheaper.
This, has so far in the year, affected Prius sales, which are down when compared to 2012, but combined numbers for Toyota and Lexus hybrids are up 2.4 percent in 2013, so apparently the fuel prices are only affecting the cheaper models, while premium-branded cars from Lexus still enjoy growing demand.
Also, the slowing of Prius sales may not necessarily be bad for Toyota, as some buyers are now looking up, and going for either a LexusCT200h or a Toyota Avalon hybrid.
By Andrei Nedelea
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