The devastating March 11 earthquake and tsunami in Japan had a tremendous effect on Toyota, as it limited production of numerous models including the Prius. Despite a tumultuous year and having to shift resources to recovery efforts, Toyota still expects sales of the Prius to surpass last year’s sales.
According to Toyota Texas, Toyota is currently racing to replenish supplies of its popular hybrid after a lack of inventory led to a 61 percent drop in Prius deliveries in the U.S. in June. Still, the Prius remains Toyota’s fastest growing nameplate this year and it’s the automaker’s third best-selling car behind the Corolla and Camry.
“Dealers simply cannot get their hands on them quick enough,” said Ivan Drury, an analyst for Edmunds.com, an industry pricing and data Web site. The model “is easily the poster child for inventory issues.”
Production of Prius and two Lexus hybrids is rebounding faster than Toyota initially estimated following the massive earthquake that struck Japan in March. Toyota expects to be back at full output by September. As production is ramping up, Toyota is also preparing to launch new Prius models, including the Prius v wagon, Prius c subcompact and plug-in Prius. With these new additions, the Prius is expected to become even more popular with consumers worldwide.
In addition to beating sales from 2010, Toyota also expects the Prius to be the No. 1 passenger car nameplate in the industry by the end of the decade.
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