One million hybrids is certainly a lofty goal for any automaker to achieve and if anyone can do it, it is Toyota. According to a report from the Nikkei Newspaper in Japan, the company plans to double its hybrid production by 2011 with an anticipated volume of 1 million units per year.
As the worldwide leader in hybrid sales, Toyota is certainly the only company capable of meeting those goals right now. Can Toyota achieve these numbers? It took the company nearly 10 years to sell its first million hybrids. From 1997 to 2007, the company sold 1 million total units. From 2007 to 2009 the company sold 1 million more hybrids. Last year they sold 500,000 hybrids worldwide. This year, the outlook predicts even higher numbers, expect maybe 750,000 units. So to hit 1 million in 2011 seems completely doable.
The report from the Nikkei may be based on hype within the company. Though they may not reach that lofty target, Toyota wants to set its sight higher. They want to increase market share and sales of hybrid vehicles worldwide. By setting such a lofty goal, the company will aim high with several new hybrid introductions in the next few years and a strong focus on hybrid development going into the future.
The company currently offers the following hybrids. Toyota Prius, Camry Hybrid, Highlander Hybrid, Lexus RX 400 Hybrid, Lexus HS250h, the Lexus GS 450 hybrid, and the Lexus LS 600 hybrid. It will launch a worldwide compact hybrid next year and is expected to add 8 more hybrid models by 2012
Source: Nikkei Newspaper (login required) via Reuters.com