Toyota car insurance news
18/06/2008
Prius pride of Japan
If you are thinking of purchasing a hybrid vehicle in the near future, then you have probably already considered a Toyota. Car insurance companies continue to track the development of hybrid cars as they could prove a solution to environmental issues within the motoring industry.
Last week the Toyota Motor Corporation announced plans to build two new factories that will manufacture nickel-hydride batteries used to part-power Toyota hybrid engines such as those in its Prius models.
Along with Matsushita Electric Industrial Company, Toyota will build the factories on two sites in Japan. The first factory announced will be built in Miyagi Prefecture in northern Japan. The second will be sited in Shizuoka Prefecture, southwest of Tokyo.
Toyota aims to sell one million hybrid cars in the early part of the next decade.
A spokesperson for Tokyo-based Atlantis Investment Research Corporation said, "Toyota is way ahead of everyone else in hybrids. Hybrid cars are in short supply and demand is increasing. If they don't exploit this advantage, they may lose market share.''
The Toyota Prius has sold approximately 1.03 million vehicles globally since it went on sale in 1997. Of those sales, 31 percent were sold in Japan and 58 percent to the USA.
An online Toyota car insurance spokesperson said, "Not only does the Prius offer an environment conscious solution to the increased cost of motoring, but its low insurance grouping is another benefit."
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