Toyota Lowers Prius Sales Target Thanks to Cheap Gas
Toyota may have an all-new Prius, but it’s being realistic with its sales potential.
With gas prices dropping worldwide, Toyota has lowered its sales target for the new Prius to global annual sales of 300,000 to 350,000 units. That’s the lower end of the spectrum compared to the 300,000 to 400,000 sales target for the previous model. One of the factors for the reduced sales target is an overall decline of annual sales for the hybrid since 2013. According to the Japanese automaker’s monthly sales records, U.S. sales of Prius models have dropped 12 percent in the year to November compared to the same period last year.
Gasoline prices in the U.S. are currently at seven-year lows and it has driven consumers away from fuel-efficient models to crossovers and SUVs.
SEE ALSO: 2016 Toyota Prius Review
The fourth-generation Toyota Prius will launch early next year in Europe and the U.S. and went on sale in Japan today. Pricing for the model hasn’t been announced but in Japan, it is about 19 percent more than the previous model, starting at around $19,800 (2.43-million yen).
Discuss this story on our Toyota Prius Forum
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
More by Jason Siu
Comments
Join the conversation
12% drop in sales and NOT EVEN A DIESEL-GHAZI scandal to blame it on is ominous! ...that 19% increase in price most likely won't be contained to Japan either!
The sales targets need to be lower because of the ugliness.