Toyota Raises Sales Goals After Prius Demand

Toyota sells a LOT of vehicles, the most in the world, but it's probably best-known now for its hybrid vehicles, like the Toyota Pruis family and its electric vehicles, including the the up-coming Toyota Prius + Plug-In and Prius c. Both of these vehicles are a part of the now iconic Toyota Prius family.

For the 2012 year, Toyota has upped its sales numbers even higher than its usual goals due to large demands for its new Toyota Prius vehicles. Some of the increased interest in the Prius vehicles stems from Japanese government incentives, which were created to stabilize a very strong current yen value. Most of these incentives involve offering rebates and waiving taxes for low-emission vehicles. As Satoru Taka, a Tokyo-based auto analyst explains, "Incentives in the domestic market will definitely give Toyota an advantage over GM and VW. With the earthquake and flooding gone, Toyota's sales will rebound in all of its markets."1

Japan expects to increase auto sales by as much as 900k units this year due to these incentives. The Toyota Prius hatchback, as an example, retails from 2.17 million yen and is eligible for 135 thousand yen tax break and a 100 thousand yen rebate. Though U.S. buyers do not receive a discount on hybrid vehicles, they are eligible to receive them for all-electric vehicles.

Toyota now predicts it will sell 8.58 million vehicles this year, which represents a 21 percent increase from previous annual forecasts.

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