Indian Orders for Prius Overwhelm Toyota
Toyota has been taken aback by the number of orders it has received in India for its hybrid car, Prius. The company had expected to sell a meager 12 units per month when it launched the world’s largest selling hybrid car in March this year. However, demand has zoomed to 80 units during the last three months, that is, more than double the company’s initial estimate.
The target of 12 cars per month seemed justified at the time of the car’s launch because of the poor demand for the Honda Civic hybrid which was launched two years ago. Even though the Civic was priced at a higher price (than the Prius), Honda managed to sell only 60 cars in six months before withdrawing the model from the market. The Honda Civic was priced at $45,725 while the Toyota Prius is priced at around $55,600 (1 US$ = 47.07 INR). This drastic change can be attributed to various reasons.
High Oil, Gas Prices
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