While Toyota is enjoying a tremendous surge in third-quarter profits, a Polk analyst goes beyond the figures to unravel the success of the Toyota Prius in the hybrid market.
Analyst Tom Libby puts the Prius into perspective.
…because three new derivatives of the Prius have come to market in 2012 (the tall ‘V’ version, the plug-in version and the smaller ‘C’ version), comparing this year with last is not comparing apples to apples.
First, Toyota is creating a new level in the U.S. new vehicle industry by creating a ‘family’ of Prius’s….
The second item is more significant. Two attributes of the Prius – its sales success and its unique design that makes it immediately identifiable as a hybrid – together are, in my opinion, gradually acclimatizing the U.S. culture to hybrid vehicles.
This has major ramifications: the Prius may be the bellcow in moving the country towards fully accepting alternative-powertrain vehicles. In this way the success of the Prius goes far beyond the sales numbers.