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December 2, 2008 4:18:46 AM CST

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Prius Shortage Hurts Toyota

Posted Jul 2, 08 4:53 PM CDT in Business 

(Newser) – Popularity is proving quite the pickle for Toyota: Dwindling supplies of hot sellers like its hybrid Prius fueled the 11.5% drop in US sales last month, Reuters reports. With a waiting list 6 months long, Prius sales fell 26%—even as rival Honda bumped its sales 13.8% thanks to record demand for its fuel-efficient Fit and Civic vehicles.

While Toyota expects to boost declining inventories of small cars like the Yaris and Corolla in August, "it is very doubtful that there is going to be a lot of recovery this year to be able to satisfy consumer demand," its head of North American sales said of the Prius.

Source Reuters

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In this March 19, 2008 file photo, the 2009 Honda Fit is introduced at the New York International Auto Show. It will cost about $1,900 more than a gas-only model.   (AP Photo/Mary Altaffer, file)
A customer admires the Toyota Prius, in this file photo.   (Getty Images (by Event) Individuals)
Toyota Employees Install Hybrid Engine Motor Unit in this file photo.   (Getty Images)
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