Chuck
11-06-2006, 09:06 AM
Shortage of popular gas-electric cars eases while demand cools, report says. (http://www.cnn.com/2006/AUTOS/11/06/prius/index.html)
CNN/Money - Nov. 6, 2006
http://www.cleanmpg.com/photos/data/501/2007_Prius_II_-_Europe.jpg
Prius Shortage Over
Until recently, car buyers shopping for a new Toyota Prius were told they had to wait months before taking delivery of their new car.
Just last last spring, the market for new Toyota Priuses was so tight that low-mileage used Priuses were selling at prices above the manufacturer's suggested price for a new one.
Production of the popular gas-electric hybrid manufactured by Toyota has caught up to meet buyer demand for the first time since the car went on sale in October 2003, USA Today reported.
An increase in Prius production comes as demand for the car diminishes. But the increase in production comes as demand for the car is slowing. Citing company estimates, the report said a Prius now sits on a dealer lot an average 17 days, up from five or six days in recent months.
A "days to turn" number of less than 10 generally indicates that the cars are already sold before arriving at a dealer's lot, according to analysts at the automotive data Website Edmunds.com. The "days to turn" for the average car is about 65.
U.S. Prius sales tumbled 12 percent in October, the newspaper said, according to reports from Autodata. Sales are down 1.4 percent for the year.
Reduced federal tax credits and lower gas prices are part of the reason behind the slowing demand, USA Today said.
Increased competition has also played a role. Honda offers Civic and Accord hybrid cars and Toyota itself now sells a hybrid version of its popular Camry sedan.
Ford has also gotten into the hybrid business with hybrid versions of its Ford Escape and Mercury Mariner small SUVs. General Motors and DaimlerChrysler's Chrysler arm have lagged competitors
CNN/Money - Nov. 6, 2006
http://www.cleanmpg.com/photos/data/501/2007_Prius_II_-_Europe.jpg
Prius Shortage Over
Until recently, car buyers shopping for a new Toyota Prius were told they had to wait months before taking delivery of their new car.
Just last last spring, the market for new Toyota Priuses was so tight that low-mileage used Priuses were selling at prices above the manufacturer's suggested price for a new one.
Production of the popular gas-electric hybrid manufactured by Toyota has caught up to meet buyer demand for the first time since the car went on sale in October 2003, USA Today reported.
An increase in Prius production comes as demand for the car diminishes. But the increase in production comes as demand for the car is slowing. Citing company estimates, the report said a Prius now sits on a dealer lot an average 17 days, up from five or six days in recent months.
A "days to turn" number of less than 10 generally indicates that the cars are already sold before arriving at a dealer's lot, according to analysts at the automotive data Website Edmunds.com. The "days to turn" for the average car is about 65.
U.S. Prius sales tumbled 12 percent in October, the newspaper said, according to reports from Autodata. Sales are down 1.4 percent for the year.
Reduced federal tax credits and lower gas prices are part of the reason behind the slowing demand, USA Today said.
Increased competition has also played a role. Honda offers Civic and Accord hybrid cars and Toyota itself now sells a hybrid version of its popular Camry sedan.
Ford has also gotten into the hybrid business with hybrid versions of its Ford Escape and Mercury Mariner small SUVs. General Motors and DaimlerChrysler's Chrysler arm have lagged competitors