Hybrids to Capture 20 Percent Market Share by 2020 Says Toyota
With the unveiling of the production version of the Prius Plug-in Hybrid in Frankfurt, Toyota still believes the mainstream adoption of hybrid vehicles is still in its early stages. Speaking to Automotive News, Toyota engineering VP Takeshi Uchiyamada commented that the Japanese auto giant expects hybrid sales to account for 20 percent of all vehicles sold in developed countries by 2020.
In Japan, hybrid sales (which are promoted with heavy incentives by the government) already account for 20 percent of all vehicles sold and hybrid models like the Prius are often the best selling cars. Currently hybrid sales in the rest of the developed world are at around 10 percent, with the Prius making up a hefty portion of that. In fact, over the past decade, Toyota hybrids have made up as much as 80 percent of all hybrid sales in North America in certain years, with the Prius alone accounting for almost one of every two hybrids sold.
Toyota is continuing a hybrid model push, with the Prius PHEV going on sale next year. Recently Toyota unveiled the Prius v wagon for North America, and at Frankfurt debuted a larger version of that car, the Prius+ with a lithium ion battery pack. Toyota will continue the push beyond this, with a Prius c sub-compact due out soon and sales of the new Camry Hybrid expected to double to 50,000 units in North America this year.
[Source: Automotive News]
With AutoGuide from its launch, Colum previously acted as Editor-in-Chief of Modified Luxury & Exotics magazine where he became a certifiable car snob driving supercars like the Koenigsegg CCX and racing down the autobahn in anything over 500 hp. He has won numerous automotive journalism awards including the Best Video Journalism Award in 2014 and 2015 from the Automotive Journalists Association of Canada (AJAC). Colum founded Geared Content Studios, VerticalScope's in-house branded content division and works to find ways to integrate brands organically into content.
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