Toyota Offers Incentives on Hybrid Prius
February 20, 2007
• by Staff
– Toyota Motor Corp. has begun offering incentives on its Prius hybrid because U.S. sales of the car have cooled off, the automaker says, according to a report by United Press International.
Toyota now offers zero-percent financing and lease deals because supply has caught up with demand, the Chicago Tribune
reported. The sales downturn reflects how the popularity of hybrids remains tied very closely to the price of gasoline, rather than a broad change in the public mind-set about what kinds of cars and engines people desire, the newspaper said.
Toyota said dealers had a 59-day supply of the first mass-produced hybrids based on January sales. Ward’s AutoInfoBank estimated a 59-day supply totaled 19,000 cars.
As recently as October, dealers only had enough in stock to last a few days. The sales incentives end Feb. 28.
Originally posted on Fleet Financials