April 2011 Dashboard: Hybrid Sales Drop, As Earthquake Cuts Off Supply
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The HybridCars.com monthly sales dashboard is a collaboration of HybridCars.com and Baum & Associates, a Michigan-based market research firm focusing on automotive issues including the hybrid and electric vehicle market.
Coming off near-record levels in March, the hybrid market took a nosedive in April. With gas prices soaring, consumers wanted high fuel economy—but couldn’t find it in the form of new gas-electric models. The March 11 earthquake in Japan pinched the supply chain for key hybrid models, such as the Toyota Prius and Lexus CT 200h.
“You can’t have disruptions in production, like we’re having post-disaster, without it having impact,” said Greg Thome, manager of Toyota Division Communications, in an interview with HybridCars.com. “We’re feeling it with Prius, where the interruption in production, coupled with increased demand due to gas prices, leaves us with about a five- to 10-day supply.” Thome said Prius was the first Toyota vehicle to resume production after the earthquake, an indication of the importance of the hybrid to the company.
With new hybrids in short supply, car buyers opted for affordable and available high-mpg gas-powered models, diesel vehicles or used hybrids. The rise in used Prius prices—from less than $17,000 in January to more than $19,000 in late April—provides evidence of steady growth in demand for used models. General Motors reported that sales of its passenger cars were up 50 percent in April, while its full-size pickups increased by only 2 percent.
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- New Larger Prius Model Delayed in Japan Due to Earthquake
- April 2010 Dashboard: Japan Sells Twice As Many Hybrids As US
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- July Hybrid Sales Reach Record High Market Share
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Filed Under: Electric Vehicles
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