Toyota has launched a new hybrid model in Japan and the flagship Prius in South Korea.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
According to Reuters, Toyota aims to sell 36,000 units a year of its new Sai hybrid sedan – a variant of the recently launched Lexus HS250h – in Japan, in another step towards its goal of selling 1m hybrid vehicles a year soon after 2010.
The Sai, on sale in December priced from JPY3.38m (US$37,290), is the second hybrid-only model under the Toyota brand after the less expensive Prius.
The automaker expects to sell 500,000 to 600,000 hybrid vehicles globally this year, while facing a short-term battery supply crimp for anything further.
Toyota told Reuters it had no plans to export the Sai, which will be built at Kyushu in southern Japan.
It has also this week launched its brand in South Korea taking battle to Hyundai-Kia’s home market with the Prius and Camry hybrids, the RAV4 and a standard version of the Camry, its most popular sedan.
Toyota expects to sell a combined 500 vehicles per month initially in South Korea, and aims to raise that to 700 units next year.
“The introduction of the Toyota brand into South Korea is aimed to meet the diversifying needs of consumers in this growing market,” executive vice president Yukitoshi Funo told a news conference.
Hyundai launched its first hybrid in the South Korean market, a LPG-electric vehicle, and is due to launch its first petrol-electric hybrid, a Sonata model, in the second half of 2010, Reuters noted.
