Lack of supply reduces hybrid sales

Just when sky-high gas prices should be raising demand for fuel-efficient gas-electric hybrids, Toyota and Honda are selling fewer of the hottest models than a year ago.

They blame supply shortages for sales declines on Toyota Prius and Honda Civic hybrids in April from April 2005.

“We sold down our inventory. We’re down to a two-day supply,” says Toyota U.S. President Jim Press. “The fact is, demand has never been higher.”

The Power Information Network’s Tom Libby says dealers sell Priuses and Civics in an average of less than 10 days. The average for all models is 57 days.

USA Today