Toyota Prius Increases Toyota Sales

The 2010 Toyota Prius was one of the top-selling cars during the government’s Cash For Clunkers program. The program allowed consumers to trade in their old clunker for up to $4,500 towards a price of a new fuel-efficient car. Toyota Prius is a third-generation full hybrid car that offers a 50 MPG combined rating.

Toyota global sales were up nearly 5 percent from a year earlier during the worst economic recession in decades. Domestic sales went up to nearly 10 percent. Toyota faced a 20 percent drop in July. Toyota also announced that it will hire about 800 additional employees and will increase global production by 8 percent.

The government incentive not only offered cash for low economical trade-ins but it helped jumpstart the automobile industry. The purpose of the Cash for Clunkers program was to remove as many gas-guzzling vehicles from the road and replace them with new fuel-efficient vehicles. The program was extended after it initially ran out of money during its first five days of operation.

More fuel-efficient cars on the road will also provide gas savings for Americans. Overall, it will reduce foreign oil dependency and will lower carbon emissions that pollute the air. The cars that were traded in during the program are crushed and recycled.

Overall, Toyota enjoyed a global market share of 19.4 percent lead during the auto rebate program. The Toyota Corolla was ranked first, Toyota Camry ranked third and the 2010 Toyota Prius ranked seventh during the Cash For Clunkers program. The rankings include hybrid and non-hybrid cars.

Toyota is also raising its global sales forecast by 3 percent for the fiscal year ending in March 2010. The automaker expects to sell nearly 7 million cars from now until March 2010 due to economic recovery signs. Toyota has been struggling with its worst downturn since it was founded in 1937.

A new Toyota Prius is also expected to be unveiled next year. The new full hybrid will come with an optional plug-in module to recharge the electric battery. The plug itself will include adapters to use in any standard 110 volt home outlet.
Source:[newsoxy.com]