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Toyota to Boost Prius Sales with Incentives

March 1, 2007

Looking to set new record sales of hybrid vehicles in the United States in 2007, Toyota for the first time put financial incentives on its Prius hybrid car starting in late 2006, according to MSN Autos. After setting consecutive annual sales records, the Prius saw U.S. sales fall slightly in 2006, declining from a record 107,897 to 106,971. A Toyota spokesman said the sales drop was expected, because during 2006 Toyota added the Camry Hybrid sedan to its lineup for the first time and had to increase the number of hybrid components produced in order to supply both cars, MSN Autos reports. Now that production is geared up for both hybrid cars, company officials anticipate no supply shortages for 2007, projecting a record 225,000 to 250,000 Toyota hybrid vehicle sales in the U.S. for 2007, with the Prius accounting for the majority. The company also wants car buyers to start to think of the Prius—Toyota's lowest-priced and top-selling hybrid with a starting retail price of $22,175—as just another mainstream car that they can buy without being put on a waiting list for months.
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