As US gasoline prices head over the $4-a-gallon mark, you might expect sales for the frugal Toyota Prius to be booming. But June sales of the Toyota Prius in the US were just 11,765 units – no less than 25% down on last year’s pace.
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There’s no shortage of demand for the gasoline-electric hybrid but availability is a problem.
US dealers are short of inventory and customers face a six-month waiting list and it’s not going to get a lot better.
“It is very doubtful that there is going to be a lot of recovery this year to be able to satisfy consumer demand and that is very unfortunate,” Toyota’s US sales boss Jim Lentz told Reuters.
But Toyota believes it is well placed on smaller and more fuel-efficient cars for the US. The Yaris recorded monthly sales of 8,472 units in June, up 4.1% over last June.
“As the pendulum swings towards smaller, higher-mileage vehicles, we’re well-poised to offer the right products at the right time,” said Lentz.
“A five-door liftback will soon join the Yaris line-up, widening the choice for value-conscious consumers in challenging economic times.”
Inventory of other popular Toyota cars also ran low in June. Dealer supply of Corolla sedans was down to a 15-day supply, while Yaris had a 7-day supply at the end of June, Toyota said.
Toyota said it expected inventories of Yaris and Corolla to increase in August and was working to add capacity at its hybrid battery manufacturing plant in Japan.
