Report: Toyota Aiming for 40 Percent Increase in Global Hybrid Sales

Toyota said on today that it is aiming for a 40 percent jump in its global sales of gas-electric hybrid vehicles.

The company expects to sell 430,000 units this year. Toyota also said that it is aiming to boost domestic production of the Toyota Prius by 40 percent to 280,000 units. The Toyota Prius has gained popularity in America amongst environmentally conscious drivers.

Toyota is also expected to introduce a new of hybrid-only model in 2009. The new hybrid-only model will be a midsize model that will have Toyota’s third-generation hybrid gas-electric system with a 2.5 or 3.0 liter engine.

In 2006, Toyota’s hybrid sales rose 33 percent from a year earlier to 312,500 units.

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