Toyota Aims at 300,000 Hybrids

It's no secret that a growing number of drivers are considering hybrid electric vehicles for their next new car purchase, a move driven in part by high gasoline prices. This has helped Toyota sell over 27,000 of its popular Prius hybrid sedans this year and suffer a shortfall of available hybrids that's resulted in a waiting list of thousands of orders.

Toyota is aiming not only to overcome its current shortage of Prius hybrid sedans, but increase its worldwide hybrid sales to 300,000 by 2006. The Highlander hybrid and Lexus RX 400h hybrid SUVs, which will be added to Toyota's model lineup early next year, are included in this number. According to the company, Prius production will increase from 10,000 to 15,000 per month early in 2005. The model, which currently is being built only in Japan, is also being examined for possible U.S. production.