Toyota Prius just keeps on going
Four years since its last redesign, there's more competition on the market, but the hybrid car is still a hit.
By Peter Valdes-Dapena, CNNMoney.com staff writer
September 25 2007: 6:45 PM EDT
NEW YORK (CNNMoney.com) -- Nowadays, most car models get a major redesign about every 4 or 5 years. By that time, sales have started to slow as competitors have introduced fancier, better cars in the auto industry's endless cycle of one-upsmanship.
In that respect, the Toyota Prius is entering its golden years and should be ready for retirement soon. Rumors are even circulating about a possible replacement.
But there's something different about the Prius. Even now, the Prius is selling at a pace any car company would call hugely successful. Of all hybrid vehicles sold in America so far this year, more than half were Priuses and, thanks to increased production, Prius sales this year are up 76 percent so far this year.
The Prius is the company's third best-selling car here so far this year. With sales of 124,620 cars, it ranks behind only the Camry (324,000 cars) and Corolla (262,000).
As it ages and the market becomes more competitive, the Prius is losing little of its steam. "That's not been true of any other model that I'm aware of," said Tom Libby, an analyst with Power Information Network.