Toyota Hybrids are So Hot It Can't Keep Up With Demand
Electric vehicle demand is a moving target, with some buyers skeptical of high prices and other issues, but hybrids have surged in popularity. Their lower prices and strong fuel economy benefits have made hybrids a hot commodity, putting stress on automakers’ production capacity. Despite being one of the world’s largest automakers, Toyota isn’t immune to those challenges, with buyers in some regions seeing months-long wait times for new vehicles and parts.
As Reuters pointed out, global hybrid sales have tripled in the last five years, leading to parts shortages and long waits for new cars. Toyota dealers in the U.S., Asia, and Europe are struggling to keep inventory, with European buyers waiting 60 to 70 days on average for new hybrids. There, the Yaris Cross Hybrid and RAV4 PHEV are two of the most impacted models. Japanese buyers wait two to five months for a new Toyota Hybrid, and while U.S. dealers have some stock, it’s slim pickings in most showrooms.
Those delays are caused by a cascade of issues with suppliers. Toyota has seen a shortage of magnets, slowing electric motor production, and the Japanese-made hybrid powertrain components have seen restricted supply. The good news is that the automaker has invested billions into new production facilities to boost its output, saying it would add more than 100,000 vehicles to its annual output soon.
[Images: Toyota]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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