Hybrids will play an important role in Toyota's future profits

By next April Fool's Day, Toyota's savings from cutting the complexity of its vehicles' onboard computer systems will kick in and increase the company's profits. Another major source of profit in the years to come will be hybrid vehicles, said Toyota president Katsuaki Watanabe earlier this week and reported by Autoweek.

Toyota is planning on selling a million hybrid cars a year, starting in the 2010's, Watanabe said. This will be accomplished by expanding the hybrid line and making the cars cheaper. In the last fiscal year Toyota sold 263,000 hybrids, which was up from 143,000 the previous year. Moving to a million hybrid units a year will mean that the hybrid segment will have to grow much faster than the overall 6 percent annual increase Watanabe predicts for Toyota's global sales next year.

[Source: Autoweek]

Share This Photo X