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 4/10 Good --- blog.foreignpolicy.com http://blog.foreignpolicy.com/node/feed
Monday, July 07, 2008 --- 44 days ago http://blog.foreignpolicy.com/node/9192
| With U.S. gas prices screaming past $4 a gallon, you would think that everyone would be rushing out to buy a fuel-efficient hybrid. Yet Green Car Congress reports that U.S. hybrid sales, which were booming earlier this year, are falling back down to earth : Reported US sales of hybrids took a 27% dive in June 2008 to 24,917 units from 34,300 units in June 2007 as Toyota continued to struggle with limited availability of the Prius. The Prius sold 11,765 units in June 2008, down 34% from June 2007. June 2008 had 24 selling days, compared to 27 in June 2007. Total light-duty vehicle sales in the US dropped 18.3% by volume in June to 1,189,108 units, according to Autodata, with sales of passenger cars dropping 7.9% and sales of light trucks dropping 28.4%. Reported hybrid sales represent 2.1% of new vehicle sales for the month. What gives? The drop isn't due to a lack of demand. Toyota can't make Priuses fast enough : Waiting lists to buy the world's dominant hybrid vehicle stretch to as long as six months, and the company has only a one-day supply of them on hand (60 days is the industry norm). The major kink in Toyota's supply chain? The batteries , all of which are produced in just one factory in Japan. The factory can only churn out 500,000 batteries per year, though the car company is planning to ramp up production and open a second facility. Toyota had better get its act together soon. The competition is about to get fierce . ... |
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