Toyota Motor Corp says it will likely begin selling a hybrid version of its best-selling Camry in 2006. This could move hybrids from being a tiny niche into mainstream.
The Nihon Keizai business daily says Toyota aims to sell 100,000 hybrid Camrys a year, mainly in North America. The company sells over 400,000 Camrys annually in the US, making it that market's most popular passenger car.
Honda – the only other car firm currently selling hybrids – markets a hybrid version of its Civic sedan and plans an Accord hybrid in the U.S. market this autumn.
But Honda's sales numbers are small and are expected to remain so for the time being. Analysts said that Toyota, Japan's largest auto maker, would probably be able to reduce costs by 2006 and sell a hybrid Camry at a price attractive to consumers.
Toyota and Ford Motor Co announced this week that Ford would license Toyota's hybrid engine technology, underlining Toyota's overwhelming lead in gasoline-electric know-how. Nissan also uses Toyota's hybrid systems.
"The point here is that other auto makers are so far behind and that's partly due to Toyota's hold on hybrid patents," said Nikko's Matsushima.
The auto giant plans to roll out at least two new gasoline-engine vehicles in the U.S. this year, including the world's first luxury hybrid, the RX400h sports utility vehicle. It is also considering a hybrid pick-up truck.
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