Gas Crunch Steers Soaring Hybrid Sales

Used cars selling even higher than new

(NEWSER) - Demand for Toyota's fuel-efficient hybrid Prius is so high that used models are fetching more on the open market than dealerships charge for a new one, reports Advertising Age. Buyers are in a frenzy to get their hands on a Prius immediately, but new cars are often on back order because Toyota can't keep pace with demand. Some dealers are offering to buy used cars back at their original prices to resell them at a profit. More»

Braking issues force recall of nearly 500K hybrids

(NEWSER) - Toyota president Akio Toyoda apologized to customers as he confirmed the widely expected worldwide recall of 437,000 Prius and other hybrid vehicles today. "We sincerely acknowledge safety concerns from our customers," he said at a press conference in Tokyo. "We have decided to recall as we regard safety for our customers as our foremost priority." More»

Not dirty, sexy, or violent, brand is 'a minor miracle'

(NEWSER) - Nissan already had its work cut out in designing a hybrid—whatever it made had to measure up to Toyota’s hugely successful Prius. Then it needed a name, which came at the end of a process blending business, culture, and the law. Possibilities must be cleared in hundreds of countries, not only for copyright restrictions but for potential unintended hilarity: see Mazda’s “Bongo Friendee” van and Daihatsu’s “Naked” minicar. The result is the green-sounding Leaf. More»

(NEWSER) - Toyota plans to keep its lead in the environmentally friendly vehicle market with a new car to be released in 2011, Bloomberg reports. The vehicle, to be based on the company's Vitz compact, will be around 5% more fuel-efficient than its Prius and will sell for around $15,600, according to reports in Japanese media. The company plans to market the car in Japan, the US, and Europe. More»

As hybrid market goes mainstream, so does iconic car

(AP) - Toyota's sleeker, more fuel-efficient update to its iconic Prius, already the most fuel-efficient vehicle on the market, offers a city-highway average of 50mpg—up from 46—and a bunch of new amenities. Unveiled at the Detroit Auto Show, the 2010 model comes with a more powerful engine, a moonroof, and a solar-powered ventilation system that can be remotely operated, so the car can be cooled while it's parked, and drivers can adjust the interior temperature before getting in. More»