Toyota Aims for 1 Million Hybrids Per Year by 2011

Hybrid vehicles have been a segment in the automotive market now since the late 90s. The introduction of the Honda Insight marked the beginning of hybrid vehicles. The Insight was quickly followed by the Toyota Prius, the perennial best selling hybrid vehicle. From there, the market has expanded to include vehicles such as the Ford Fusion Hybrid, the Nissan Altima Hybrid, the Camry Hybrid and so on. There are dozens of different hybrid models on the roads today and the list continues to grow each and every year.

Interested in finding out more about hybrids? Here's a definition from Wikipedia, "A hybrid vehicle is a vehicle that uses two or more distinct power sources to move the vehicle. The term most commonly refers to hybrid electric vehicles (HEVs), which combine an internal combustion engine and one or more electric motors."

With an increasing number of hybrid vehicles on the roads, one hybrid in particular still remains at the top. The Toyota Prius hybrid, the best selling hybrid of all time, is still the champ and could remain at that position for a long time. Additionally, Toyota is the king of hybrid sales. Toyota has sold more hybrid vehicles than all other automakers combined.

But Toyota is not content. They are eager to increase their lead over the competition in the hybrid market. According to the Nikkei Newspaper in Japan, Toyota has set a goal of 1 million hybrid sales annually by 2011. 1 million units per year would actually be double the current output of Toyota for 2009. Doubling hybrid sales within two years is a lofty goal, but Toyota believes it can be done.

For background on how difficult a task that lies ahead, look at Toyota's previous hybrid sales numbers. From 1997 to 2007, they sold a total of 1 million hybrids worldwide. If you combine sales numbers from 2007, 2008, and 2009 Toyota sold 1 million hybrid models. In 2009 the company sold 500,000 hybrids. Now the target of 1 million hybrids is just one year away.

Toyota has plans in place to help them reach their goal. They will introduce several new hybrid models within the next. The company will launch a worldwide compact hybrid next year and is expected to add 8 more hybrid models by 2012. These models will add to their existing lineup of hybrid vehicles which is extensive. Toyota current hybrid offerings include the Toyota Prius, Camry Hybrid, Highlander Hybrid, Lexus RX 400 Hybrid, Lexus HS250h, the Lexus GS 450 hybrid, and the Lexus LS 600 hybrid.

Not much more than a decade ago hybrids were virtually unknown. From unknown to 1 million in sales per year is a significant achievement in such a short time frame. Toyota's future outlook places hybrid vehicles at the top of their charts and they are aiming for success.

Source: Nikkei Newspaper (login required) via Reuters.com, Wikipedia "Hybrid Vehicle" Definition