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That, my aspiring plug-in friends (2010), is a Hell of a lot of Priora. Nikkei English News [via Bloomberg] reports that Toyota's ramping (amping?) up Prius production at its two Japanese factories to increase overall output by a full 60 percent. ToMoCo's aiming to shift 450k gas – electric hybrids worldwide in '09. No word if and when (not to mention why) Toyota will expand the Prius into its own sub-brand, as rumored on the internets. And the U.S. market for Priora has suddenly gone soft. Although Toyota's sold 181,221 Priora in '07, and the model's up 8.5 percent year-to-date, February sales declined by 10.9 percent. Could we about to see another price cut to move the metal? It sure worked last time.
25 Comments on “Amortize This! Toyota Increases Prius Production to 450k...”
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I hope so Robert. I would love to have one but it is still too much money for my meagre budget.
Obviously a huge success, but that is really aggresive in today’s economy. One of the keys is it is Made in Japan, and they need to keep those happy Japanese union workers working to keep them happy, and boost the local economy which hasn’t really recovered from the last down turn. Based on what is going on now with Camrys at $199 per month leases and Tundras etc. they will sell every one at what ever price it takes. It’s not about money this year, they have plenty to work with.
I drove one for a week, courtesy of Toyota’s press fleet. 45 mpg isn’t anything to sneeze at (the gas gauge barely moved each day in a 40 mile roundtrip commute), but the driving experience leaves much to be desired. Forget about jumping into holes in traffic, and even if you can, you’re looking at 20 mpg and not 45, with a floored accelerator pedal. The headroom in the back seat also is terrible.
I’m looking forward to spending a week in a Camry Hybrid starting next Tuesday to see if a more comfortable package and slightly worse fuel economy is a worthwhile tradeoff. For me, it probably would be.
They could move a huge number of em if they offer an ultra competitive lease program (call it a green carpet lease maybe). That would allow a large number of people to jump on the save the plant bandwagon. That might limit the near term market for a stand alone Prius brand though. I dont now, I’m an engineer not an economist.
Toyota must be betting that gas is heading to $5 per gallon that quickly. Wouldn’t Toyota also benefit from better economies of scale? If that’s true, they can lower the price. Also, outside of Honda, everyone else with a hybrid offering looks like a poor imitation. If you ask 100 people to picture a hybrid car in their minds, how many would you think picture the Prius?
I wonder if they have hit, or are close to hitting, a ceiling?
After all the hybrid world has changed and this car’s selling strength is diminished now by those market offerings and it’s weaknesses are exposed.
Strength – it is a hybrid. This just in there are tons (no pun intended) of hybrids out there to choose from.
Weakness – packaging:
Something more subtle? How about a Camry, Aura or Malibu?
Something more roomy how about an Escape, Tribute or Highlander?
Something more luxurious? How about a RX, GS LS?
Something more sporting? Errr – we’ll get back to you.
At the end of the day this car was always a compromise
– it was never a great family car (try putting a stroller in it)
-it was never a good luxury car (wow there is some cheap looking/feeling plastic in it)
– it was never really attractive (not in a Mini sense)
So maybe now with the market having more choices Toyota is left selling an ugly, space in-efficient, 4-door hatchback.
I have to wonder if this means a refreshed or updated Prius will be available in ’09. Why go through major upheaval on an older model?
Could we be looking at 450K annual production of more capable Priuses at a lower price debuting in ’09? That would be Bob Lutz’ worst nightmare.
I think they’re pretty far from market saturation. They are reasonably priced, high-milage cars that sacrifice nothing in the driving experience, at least from a non-enthusiast perspective. They also have all the amenities that people are looking for. I think the question in a lot of buyers’ minds isn’t “Why SHOULD I get a Prius,” but “Why SHOULDN”T I get a Prius?”
The Volt has no chance against it.
I dont think with gas averaging 3.27 a gallon, Toyota has to worry about the US market for Priuses going soft. Their only worry should be that we consumers just have an aversion to getting something that seems old or stale. Well, I love my Prius, but there are three on my block, one the same color as mine. So if they dont move as many this year as last, it’s because people are just chomping at the bit for the next one.
Therefore, 450K (and thats for worldwide consumption) is not an unreasonable target. Especially when you (must) presume that the Lexus version will share the line.
BTW, for those of you who still dont get it. The Prius is pretty near the perfect car right now. Roomy, attractive, feature-laden, quick, efficient. It is NO compromise. Most singles, couples and families do not need anything larger. Most cars in its price range dont come with near the amount of luxury features (touchscreen, backup camera, pushbutton stop/start). 0-60 in 10 seconds is plenty quick. Unbeatable mpg AND low emissions. And style for days. If all we get out of the next one is a slightly tweaked appearance (enough to differentiate it from the three others on every city block) with 10-15 more mpg, that’ll be enough to move 450K of ’em.
A one month drop is not a trend.
Perhaps it was a supply, rather than demand, problem?
Time will tell, but Toyota does tend to act on real numbers rather than speculation. That does tend to vanilla-ize their product but overall it has worked well for them.
The ‘Prius’ is on the cusp of becoming to hybrids what ‘Kleenex’ is to tissues. At 450,000 a year, they will clinch it. And good luck to the companies that try and play catch up. The Prius has more than enough appeal, and a sizable enough market (car = appliance) that they can sustain those volumes for a while yet…leaving many carcasses in their wake.
$4/gal is all the sales pitch Toyota needs. “I want my MPG” sure seems to work for ’em.
Could we about to see another price cut to move the metal? It sure worked last time.
As long as they can make a profit, everone’s happy. And compared to the Detroit team Toyota has pretty deep pockets to make it work.
ChrisHaak-The Camry Hybrid has more power than the 4 cylinder Camry but less than the V6. It should be much more fun to drive then the Prius.
marc-There is no Lexus version of the Prius. Lexus makes several hybrids, but none are directly based on the Prius.
Yeah, those Toyota fella’s are sure lucky, aren’t they? Who’da thunk a gas/electric hybrid was worth a fart in a pig farm?
:-)
(I hesitate to quote him: http://www.newsweek.com/id/81580)
Geotpf, I will respond politley, because I know you mean no disrespect regarding my Toy/Lex product knowledge. I drive a Prius. Believe me, I know there is no Lexus version of it, or that is what I would be driving. However, Toyota execs stated that at the NAIAS next January they will announce a new Lexus hybrid. Rampant speculation on the internets would lead most casual readers to assume that the next hybrid Lexus will be based on the Prius.
I happened to come across this the other day and it just struck me as very funny, in juxtaposition with any of Lutz’ pronouncements:
Happy Toyota Owners
Note the number powering their Rav4-EVs with solar power.
And the sub-$30K Volt price mentioned in the Newsweek article seems… quaint.
A brilliant move.
In strategy consulting, there is a concept known as the “experience curve,” which essentially dictates that the more units you have manufactured cumulatively, the lower your unit cost is. So in a developing market, you want to expand volume the fastest by keeping price low. Even if it means losing money at first, the volume advantage means you’ll move down the curve (i.e. lower your costs) faster than competitors, eventually driving them out of the business.
What this means is that Toyota will have moved 2.5 million of the Prius before the Volt is even introduced.
Game, set, match.
What this means is that Toyota will have moved 2.5 million of the Prius before the Volt is even introduced.
The Volt will also have to compete with a generation 3 Prius. If and when the Volt appears it will have to be perfect right out of the box. Fully developed, fully tested and ready to compete or it does not stand a chance against the G3 Prius and the rest of the Toyota hybrid fleet. What are the chances of that?
I know that keeping weight down is important to fuel economy, but based on my test drive in a Prius it would sure benefit from another 50-75 lbs. of carefully applied sound deadening technology. It seemed a too noisy vehicle for long drives, and long distance driving is something I do often.
My TSX is also a little disappointing in this regard, especially with regard to road noise on certain roads. Overally I’m very happy with the TSX fuel economy though. I just completed a 1900 mile trip at average speeds of 73 MPH and an overall trip average of 32.5 MPG. Not bad that.
I know it will probably never happen, but I am not interested in a prius until
1) It has significantly better gas mileage than a 250-500cc motorcycle (faster, cheaper, more fuel efficient)
or
2) Offers a stick version.
a 250cc motorcycle that is, say, $4k new out the door and gets 60+mpg highway easy and 35-40 city (my gsx-r 600 gets mid 30’s) and is 0-60 in 6-8 seconds is a helluva lot better in all ways (except cargo capacity and safety) than a prius.
A stick version?
The car’s got a planetary gear, what do you want a stick version for? Would totally mess up the power distribution algorithm anyway, but the planetary gear is stepless, from 0 to Max Veloc.
ChrisHaak :
I drove one for a week, courtesy of Toyota’s press fleet. 45 mpg isn’t anything to sneeze at (the gas gauge barely moved each day in a 40 mile roundtrip commute), but the driving experience leaves much to be desired. Forget about jumping into holes in traffic, and even if you can, you’re looking at 20 mpg and not 45, with a floored accelerator pedal. The headroom in the back seat also is terrible.
This is not true at all, at least not in my experience! I jump into holes in traffic all the time, and have never gotten lower than 43 MPG. I consistently get between 45 and 48 MPG, and sometimes I squeak out a 50+ average for a tank of fuel.
On rare occasion, I have driven at 85 MPH on empty interstates for long distances, and never got lower than 42.5, and that was calculated mathematically (not by the computer display, which is sometimes generous by 2 MPG or so).
You really have to abuse the Prius’ right pedal on a regular and consistent basis to get anything below 40 MPG. THAT has never happened to me and my car in the four years and 62,000 miles I’ve driven it. Anybody driving like that long-term will no doubt be in constant danger of losing their license to points.
Robstar :
I know it will probably never happen, but I am not interested in a prius until
1) It has significantly better gas mileage than a 250-500cc motorcycle (faster, cheaper, more fuel efficient)
I get better gas mileage than my buddy’s Honda motorcycle. I stay warm in the winter, cool in the summer, and dry in the rain. And I can carry concrete, mulch, and/or my co-workers to lunch.
or
2) Offers a stick version.
As Stein says above, the Hybrid Synergy Drive doesn’t even have a transmission, so it’s not likely that there will be a stick version.
a 250cc motorcycle that is, say, $4k new out the door and gets 60+mpg highway easy and 35-40 city (my gsx-r 600 gets mid 30’s) and is 0-60 in 6-8 seconds is a helluva lot better in all ways (except cargo capacity and safety) than a prius.
My 0-60 in 10 seconds has been more than adequate for getting me in and out of trouble all by myself. And I say this after having been a Corvette owner.
I would definitely consider a Lexus version of the Prius. I plan to drive my current ride for another 3 years. In that amount of time, it’s very possible that the whole playing field will be changed yet again.
Robstar wrote:
a 250cc motorcycle that is, say, $4k new out the door and gets 60+mpg highway easy and 35-40 city (my gsx-r 600 gets mid 30’s) and is 0-60 in 6-8 seconds is a helluva lot better in all ways (except cargo capacity and safety) than a prius.
* Suit and tie
* Rain
Well my old Honda Helix scooter got better mileage than your motorcycle, and my Yamaha Riva XC125 gets anywhere from 80 to 95 mpg depending on how traffic is that day.
The best I can muster on the Riva is to put a plastic container with a bungee cord and go off to the market. I can actually store a weeks worth of groceries that way and don’t even need to use bags.
Still it’s such a nuisance to put on the protective gear and helmet, install container with two bungee cords, watch for every little possibility of being maimed during the commute, park it off to the side (usually have to put it over a curb to park one around here), put a lock on it, undo the bungee cords, take out the container, put container in the cart go shopping with a big helmet and in my cart, and then repeat most of the entire process… twice… that I haven’t done this in nearly 2 years.
However if gas goes to $8 a gallon I’ll probably have to make due. For now I also have a 98′ Jetta that can be used for the same purpose.