Toyota Motor Sales (TMS), U.S.A., Inc., has reached a landmark goal with the sale of its 1 millionth hybrid vehicle. According to the company, more than half of the vehicles sold by the Toyota Motor Corporation — 541,210 units — have been sold in the United States.
"The cost benefit of hybrids is becoming more apparent with climbing gas prices," says Jim Lentz, TMS executive vice president. "We anticipate combined sales of Toyota and Lexus hybrids of a quarter million units in the U.S. during this calendar year."
Despite earlier concerns that decreased tax credits from the IRS would dampen hybrid demand, Toyota continues to post record hybrid sales. Calendar-year-to-date hybrid sales for TMS totaled 119,154 units, an increase of 75 percent over the same period last year.
In May, TMS posted sales of 36,101 hybrid vehicles, up 102 percent over last May. Toyota Division posted sales of 34,174 hybrids, up 121 percent over the same period last year. Lexus Division posted sales of 1,927 hybrids.
As consumers begin the summer driving season, the broad benefits of hybrid technology reveal discernible cost-savings with strong sales of Toyota Camry Hybrid and Toyota Prius. When comparing real-world hybrid transaction prices to non-hybrid prices and taking into account current rising fuel prices, Toyota hybrids show their remarkable value.
Aside from the gas-savings to hybrid owners, the significant reduction in tailpipe emissions, as well as the reduction in foreign oil dependence, has been a factor among many buyers who say they are concerned about the environment. According to a recent study by the National Renewable Energy Laboratory (NREL), hybrid vehicles have saved close to 215 million gallons, or 5.1 million barrels, of fuel in the U.S. since their introduction in 1999. As the market share leader in the hybrid segment, Toyota accounted for 66 percent of all hybrids sold in America during that period.
Additionally, Toyota has calculated that global sales of hybrid vehicles have greatly contributed to reductions in CO2 emissions. Since the introduction of Toyota's first hybrid in 1997, approximately 3.5 million fewer tons of CO2 were emitted when comparing emissions from gas-powered vehicles to hybrids of the same class.
Also significant to buyers who may base their next purchase on environmental priorities are the results of recent lifecycle assessment studies of hybrid vehicles. A variety of studies, including one from the Argonne National Laboratory, have concluded that the total lifetime energy use of hybrid vehicles — from development, through production, through on-highway use, to end-of-life recycling and landfill — is significantly lower than conventional vehicles.
