Toyota Global Hybrid Sales Pass 1,000,000 Mark - AP

[hatrack]

AP) TOKYO Toyota said Thursday global sales of its hybrid vehicles, first introduced 10 years ago, have topped 1 million, a landmark for the Japanese automaker that leads the world in gas-and-electric cars.

Toyota Motor Corp.'s cumulative sales of hybrid vehicles totaled 1.047 million as of the end of May. Of those, nearly 345,000 hybrids were sold in Japan, while 702,000 were sold abroad, the company said in a statement.

The Prius is the clear leader, with a total of 757,600 units sold since its 1997 introduction in Japan. Toyota began selling the Prius in North America, Europe and other places in 2000. Last year, the model made up more than 40 percent of hybrid sales in the U.S.

Demand for hybrids, which deliver superior mileage by switching between a gasoline engine and electric motor, has soared amid higher oil prices and greater consumer concern about pollution and global warming. The Prius, which gets 55 miles a gallon on combined city and highway driving conditions, has been enormously popular as a mid-size sedan, which is a best-selling vehicle category.


EDIT

http://wjz.com/business/finance_story_158074820.html

[pagerbear]

1. Stoopid IRS!

The more successful a hybrid is in the market, the smaller your tax deduction is for buying it!

From http://www.irs.gov/newsroom/article/0,,id=107766,00.html:

If 60,000 qualifying hybrid vehicles are sold by a particular manufacturer, the tax credit for vehicles sold by that manufacturer is reduced. The full credit can be claimed up to the end of the third month after the quarter in which the manufacturer sells its 60,000th hybrid vehicle. The only producer for whom the credit has been limited is Toyota Motor Sales, USA, which includes certain Toyota and Lexus models.

[flyingfysh]

3. I managed to get the full tax credit

It's better than a tax deduction; it is a tax *credit*. I got my Prius in time to get over $3000 as a tax credit last year. I don't know what the amount is now, or if there is still any kind of credit.

[Maat]

2. And I'm driving one!

And I got the full credit!

I love my 2006 Toyota Prius; I get 48-49 miles per gallon, and I drive in-town much of the time!

[CottonBear]

4. I can't itemize (no deductions except myself). Can I still get the hybrid credit?

I would like to buy a Prius but the payment might overcome the savings on gas.

I'll be filing as single person with no dependents in Georgia for 2007.

[skids]

5. Yep.

Though by the time you put one on the road it may not be that much. It is reported on line 55 checking box c and enclosing form 8910.

[Maat]

7. Ignore my post below.

Yeah, someone who understands it!

[CottonBear]

8. Thanks for the info. I'll research the tax code prior to any purchase. n/t

[Maat]

6. Gosh, I'll have to have my hubby explain it all to me yet again.

Sorry; I'm just no good at understanding the whole tax thing.

:-(