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Toyota USA CEO: Hybrid cars are popular for us

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    Jim Lentz on success of Prius, climbing gas prices

  • Duration 5:33
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Well as -- he just mentioned won a big exception to that fuels is as the report the Toyota Prius.

Maybe a reason my sales of that particular hybrid to set an all time I would think Napa Toyota Motor sales.

CEO.

Jim lists into that you -- thank you put all these vehicles though if it is pricey -- and and I guess the argument and -- You save in the long run not depending on the vehicle it might be -- very relevant.

But is the market there.

If gas prices.

Stay where they are -- other words.

To do it these had to -- haven't rob Cameron -- -- votes they'll certainly haven't rob.

-- cheaper vehicle sales at GM so.

Is all this just a mountain of dust.

No I I think in the case of Prius.

People are buying for number different reasons some people are buying for environmental reasons some for economical reasons some because the love the technology -- the car.

Resume action last month almost 29000 sales in the Prius family.

He was the biggest month we've ever had in on top of that there -- -- last month that was on the gas prices erupted at any connection.

Well there is a connection he was all hybrids were almost 19% of our sales but if you go back a year ago.

Hybrids in our case we're so almost 15% of our sales so there's been a bump as a result of fuel price but hybrids in our case are still -- very popular product.

Here's where I -- -- hundreds and some of these more elaborate vehicles that if they get too wild too funky plug -- -- -- -- -- -- of his stuff.

That's where they get to be a diminishing returns it's not as if Americans are anti -- I think you just -- confused.

So.

The jury's still out we don't know how to go the jury could be out longer term and even the brits I I just what -- -- though is.

Is the appetite -- lead there in total bargain for all of these vehicles if we just keep -- and where it is now well it.

Might be if you keep gas where it is now but I think the long term that is -- fuel prices will go up over time as opposed to down over time.

-- obviously when we look at regulation coming forward to average fifty plus miles per gallon.

That's all assuming that we're gonna see higher fuel prices over time and I think.

The average person probably realizes that what's that cut -- for them to -- want to save some money on gas.

But I don't wanna spend a lot on a car at what would be that -- -- well I think the interesting thing is it's not necessarily the price of gas.

It's the rate of change in the price of gas.

If you look at 2008.

When we had a rapid run up in the price.

We saw people shift from anything that was -- be six in the four cylinder cars today even at high prices we're not -- that take place.

It's an example of that.

That the biggest growth in sales so far this year for midsize passenger cars.

It's not compact car's so so people are meant to midsize passenger cars of lawmakers -- -- moment.

Our our.

Are getting great fuel model -- they are in in I think we're seeing some of that people are actually coming in today.

In trading out of subcompact cars.

That they bought three and four years ago during high fuel prices and they're moving back to larger vehicles -- get great -- the industry has done a great job.

Even in just the ICE engines that internal combustion engines getting much better mileage and people are buying into it.

What do people tell you in the divided -- or by any of these other cars.

What is.

What is the compelling.

So point for them what gets them into these vehicles and a price a moment but what is it it varies by by person.

In in most cases they see that they are more economical over time to operate they're paying less for gasoline.

Some are doing it for environmental reasons to reduce CO2 some are doing it less dependence on foreign oil.

When it -- but all the people are buying these vehicles in the Prius totally up to the vote.

-- it did a lot of Marbury income people anyway aren't debt yet is there so these are toys of the world to -- And not necessarily I think I can't tell you about volts situation.

Because I don't know their particular demographics.

In the case of Prius we've sold over a million Prius is here in the US.

They're not all just of people with well there -- a lot of mid income people at -- car.

And in quite frankly they're coming back into the market now what's -- loaded -- cost mode it's it and -- Prius yet.

In a plug in it's about 38000.

For natural gas it's probably about 32000 dollars.

The average transaction is about 26000.

If you look at the and the average Cameron.

Average cameras probably about 24.

So what's within a couple thousand dollars.

Just to make up a couple of thousand if I went from the camera to the press.

I would have to own it for a couple more years couple years.

Copiers but the average car on the road today is eleven years old.

The average person keeps their cars five or six years so I but I don't think most people sit down with a pencil they calculate -- back on course.

They take a look at what their budget is how -- they can -- on a monthly basis.

And in part of that multi basis is a cost of operating a car.

And that all factors into their decision well -- -- -- is your big money makers across the board yours GMs -- Armed.

Or not these vehicles.

We make when he across the board on most of all I know you do but but it's not -- -- the -- going away.

No -- not going away I mean we sold 42000 last month and will continue to be our top seller.

Jim always could soon thank you very much -- Jim wants --

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