Toyota to add 10 hybrids to lineup

Toyota to add 10 hybrids to lineup

Thu Aug 4, 6:54 AM ET



In its attempt to be the leading environmentally friendly automaker, Toyota (TM) says it will add 10 hybrid cars to its lineup and plans to sell 600,000 hybrids annually, or 25% of its total sales, in the USA in the next decade.

Hybrids are a key part of Toyota's effort to reduce the automotive industry's dependence on foreign oil, said Jim Press, the company's North American president and COO.


The company is also developing vehicles that use clean diesel, natural gas and hydrogen power.


Consumers are demanding more environmentally friendly cars, and Press called on the auto industry to come together and find ways to address consumer concerns.


"To do that, I propose we put together a meeting of top automotive leaders in a neutral location where we all leave our company name badges at the door," Press said at the Center for Automotive Research's Management Briefing Seminar. "That way, we can engage in candid dialogue, unify and come out with a positive direction."


The auto industry historically bristles at the thought of governmental regulation, especially when it comes to increasing average fuel economy.


Even Toyota recently complained in a federal filing that an increase in corporate average fuel economy, or CAFE, standards would hurt its profitability and could affect the number of vehicles the company offers in the USA.


"Think of what we could do with issues like CAFE and global warming if we join hands and develop our own vision for the future, rather than waiting for regulators to do it for us," Press said. "Let's drive the process and not get run over by it."


Sales of the company's Prius hybrid car are booming, especially with gas prices staying over $2 a gallon. Sales are up 133% this year, and dealers continue to have waiting lists of buyers looking to purchase the car.


Toyota's hybrids, which are powered by an electric motor at slow speeds and a gasoline engine at higher speeds, can save about 20% on fuel consumption.


But Press said drivers aren't concerned only with the cost of gas.


"Hybrids are a simple way to make an important difference in curtailing foreign-oil dependence, air pollution and greenhouse gases, plus they're a lot of fun to drive," Press said.


"Being able to thumb your nose at gas stations on a regular basis is an added bonus."

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