Toyota launched its first Prius gasoline-electric hybrid vehicle in 1997, and has since sold over 2.5 million hybrids worldwide. In the next five years alone, Toyota hopes to sell twice that figure.
We reported earlier that Toyota has plans to offer a hybrid variant of each of its models by 2020. Perhaps even more ambitious, according to Reuters, Toyota wants to sell over five million hybrid vehicles between 2010 and 2015, which averages out to one million units per year. By contrast, over the last 13 years, Toyota's annual hybrid sales have averaged about 206,000.
Although Toyota's goal is extremely ambitious, the company's hybrid sales have received a serious boost thanks to government incentives, including subsidies for buyers of hybrid vehicles. In the United States, the Prius has run out of government cash, but the federal government is looking at a new program. China is also considering a program to incentivize hybrid vehicles.
Toyota currently offers a total of seven different hybrid vehicles in the U.S., and has an eighth on the way. Three of those vehicles, the Toyota Prius, Lexus CT 200h and HS 250h, are hybrid-only vehicles, and Toyota also has a plug-in hybrid Prius on the way.
What do you think? Will Toyota be able to reach cumulative sales of five million hybrids between 2010 and 2015 with the help of its hybrid expansion plan? Let us know in the comments section below.