Toyota: Katrina drove up hybrid demand

Toyota U.S. exec: Prius inventory now counted in hours, not days.

DETROIT (Reuters) – Toyota Motor Corp. has seen a rise in demand for hybrid vehicles in the United States in the aftermath of Hurricane Katrina as consumers seek more mileage out of $3-gallon gasoline, a top official said on Thursday.

“At the end of last month, we had a 20-hour supply of the Prius (hybrid sedan),” Jim Press, head of Toyota’s U.S. operations, said at the Reuters Autos Summit, held in Detroit. “We no longer count in days.”
Japan’s top auto maker, a pioneer in gasoline-electric hybrid vehicles, has enjoyed booming sales in the world’s biggest car market thanks to the popularity of its hybrid models, now also offered in the sport utility vehicle segment through the Highlander and Lexus RX400h.

“Our hybrid SUVs allow customers to have their SUVs and be responsible at the same time, and we’ve seen (demand) really accelerate since Katrina,” Press, president of Toyota Motor Sales U.S.A., said, adding that the waiting list was growing for its hybrid SUVs.

Reuters