Jun 162012

Prius is Third BEST Selling Car

The Toyota Prius is the world’s most popular hybrid vehicle, with sales seeing consistent growth since its debut over 10 years ago. Now the Prius has been named the third best-selling car in the United States, with over four million vehicles purchased worldwide to date. In the first quarter of 2012, Prius sales rocketed to 247,230, which is more than double the figure for the previous quarter.

Most Popular Selling Eco Car the Toyota Prius

Most Popular Selling Eco Car the Toyota Prius

Prius Tax Breaks and Rebates

Toyota’s sales success is down to two reasons. Firstly, Prius now represents not just one model, but a collection. Secondly, this change was conveniently timed in conjunction with Japan’s tax breaks and rebates, which means that buyers are now able to save more than $2,500 when buying a Prius. Those who buy eco-cars like the Toyota Prius are entitled to rebates of up to 100,000 yen, which is the equivalent of $1,258. Tax reductions for these vehicles also apply, and will run for at least the next three years.

President of car consultancy company Car Lab, Eric Noble, said that these figures are proof that the Prius has a future, which means that there is a bright future for the hybrid car market in general.

Aqua Subcompact Plug-In

Another up and coming eco-car is the Aqua Subcompact plug-in vehicle, part of the Prius family, which is becoming increasingly popular in Japan. This has contributed to the huge rise in sales for the Prius line, with numbers tripling from 52,507 to 175,080 in the first quarter. Prius sales have risen above those of the Hyundia Elantra, Volkswagen Golf, Ford Fiesta, and the Honda Civic. The only models it has yet to beat are the Toyota Corolla and the Ford Focus.

Difficult Times Now Over

Toyota has seen some difficult times in recent years, with huge recalls made in the US in 2010 due to manufacture errors. After that, Japan’s natural disasters in 2011 brought automotive manufacture nationwide to a halt. Until this point, Toyota’s sales figures made it the largest car manufacturer in the world.

Toyota is Recovering

Toyota’s Chief Executive Officer Akio Toyoda announced that the company is turning a corner and clearly recovering from the 2011 earthquakes. Equity analyst for Standard & Poor’s Capital IQ in New York, Efraim Levy, agrees, saying that the company is clearly making a comeback. He pointed out that it is a great achievement for a niche product to see such huge success.

Prius was the First and Most Successful Hybrid Car

Prius was the first and most successful hybrid car, and has set the standard for eco-cars thereafter. Many manufacturers have released competing models, such as the Nissan Leaf and Chevrolet Volt. However, according to John Wolkonowicz, Automotive History Specialist and Analyst, none of these models are likely to be major competitors for Prius at the moment. Prius is number one on the market, so why would consumers want anything less?

With Petrol Prices Coming Down will we go Hybrid?

Wolkonwicz said that petrol prices pose a threat to hybrid vehicle sales, and that hybrid sales can’t progress enough until petrol prices stay at an increased price. Petrol prices dropped by 6.6 per cent between May 22 and April 5, and if this decline continues, consumers won’t be convinced to go hybrid.

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