Toyota Launches Best Fuel Eco Car - Analyst Blog
December 28 2011 - 10:39AM
Zacks
Toyota Motor Corp. (TM) launched the world’s
best fuel-efficient gasoline-electric hybrid car in Japan, known as
Aqua. The car, which will be marketed in the U.S. as
Prius C,
delivers 35.4 km per liter (83.3 miles per gallon), beating the
mileage of current Prius model that gives 32 km per liter.
Earlier the company had revealed that Aqua uses the same
powertrain as the Prius sedan. It is priced at about ¥1.7
million ($22,000) in Japan, which is ¥300 thousand less than the current
Prius in
order to attract the entry-level, fuel-efficient car buyers. The
automaker intends to sell 12,000 units of Aqua per month in
Japan.
Toyota occupied the No.1 spot in hybrid offerings after
introducing Prius in 1997. Since then, the automaker sold more than
3.4 million hybrid vehicles till date. It expects to launch as many
as 10 more gasoline-electric models by 2015 and offer a
fuel-sipping option across its entire line-up by 2020.
In May 2011, Toyota introduced Prius Alpha hatchback wagon, which is
derived from the third generation Prius model, as Prius V (5-seater) in Japan. The
vehicle is priced at ¥2.35 million ($29,000) and is equipped with
nickel-metal hydride (NiMH) batteries like its predecessor.
Toyota plans to sell Prius V in North America in a year. It also plans to
sell the 7-seater version of Prius Alpha in Europe as
Prius Plus
in mid-2012. The automaker intends to sell 2,000 units of
Prius V per
month in North America and 2,000 units of Prius Plus per month in
Europe.
Toyota will also launch the plug-in version of
Prius hybrid
car next year that comes with an excellent mileage and affordable
price. The plug-in-hybrid (PHV) vehicle boasts a mileage of 61.0 km
per liter (143 miles per gallon) in combined EV and hybrid driving modes under
Japanese test conditions. Meanwhile, the U.S. version of the
Prius
PHV will
provide a mileage of 87 mpg.
Including subsidies for green vehicles, Prius PHV is priced at ¥3.2 million ($41,000) in
Japan, $32,000 in the U.S. and €37,000 in Europe. This is ¥3.76
million lower than Nissan Motors’
(NSANY) Leaf
electric car and cheaper than General Motor’s (GM)
Volt PHV,
priced at $41,000 (before subsidies).
As a result, Prius PHV will pose a significant threat to both GM and
Nissan, who are trying very hard to lead in the hybrid vehicles
(HV) market.
Toyota plans to sell 35,000 to 40,000 units of
Prius
PHV per year
in Japan and 60,000 units globally.
In this year, Toyota also signed a memorandum of understanding
with Ford Motor Co. (F) on the equal product
development collaboration in order to manufacture a gas-electric
hybrid engine for pickup trucks and sport utility vehicles (SUVs).
It has also partnered with Tesla Motors Inc.
(TSLA) to
collaborate on producing electric vehicles based on its small SUV
RAV4.
Toyota is struggling with waning sales in the U.S., its most
important market, due to production disruptions resulted from the
twin disaster in Japan and severe floods in Thailand. It has
already lost its No.1 position to GM and Ford in terms of
sales.
However, the product launches will definitely help Toyota to
maintain its top position in the HV market as well as lift its overall
position from the backlash of recent mishaps.
Recently, Toyota revealed its target to achieve a 20% growth in
global sales to 8.48 million vehicles in 2012 on the production of
8.65 million vehicles, up 24% from 6.97 million in 2011.
Toyota also stated that it expects to sell 8.95 million vehicles
in 2013 by manufacturing 8.98 million vehicles. The estimated sales
(excluding sales by group companies such as Daihatsu Motor Co. and
Hino Motors)
are higher than 8.43 million vehicles attained by the company in
2007.
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
NISSAN ADR (NSANY): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
TESLA MOTORS (TSLA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Toyota Motor (NYSE:TM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Toyota Motor (NYSE:TM)
Historical Stock Chart
From Jul 2023 to Jul 2024