Pruis orders beat expectations

Domestic orders for Toyota Motor Corp.’s all-new Prius gasoline-electric hybrid car totaled 180,000 units a month after its debut, the automaker said. Half of the cumulative 180,000 orders are for the ¥2.2 million (US$23,610) mid-grade model, Toyota officials said. Industry analysts traced the popularity of the Prius to consumers’ burgeoning awareness of its environmentally friendly features and tax breaks and subsidies that the government has begun offering to buyers of vehicles that clear officially set standards for gas mileage and harmful emissions. They also attributed the popularity of the Prius to Toyota’s marketing strategy of limiting the suggested retail price of its base-grade model to as low as ¥2,050,000 (US$22,000), despite the third-generation Prius’ improved performance over the previous model. Toyota is now confronting the urgent task of boosting Prius’ production capacity, now that those who have placed orders are facing a waiting time of seven months on average. (June 19, 2009)