Toyota to produce 1 million hybrid cars from 2011

When it comes to hybrid cars, Toyota is the market leader. No other company except Honda has been able to challenge them. Even Honda is some way behind than Toyota in this market segment. You know that a hybrid car is such a car that can run both on gas and electricity.

Toyota now has the plan to produce one millions hybrid cars annually from 2011. The company’s high officials feel that because of environmental concern, many people in future will want to buy this kind of car. At the same time, in countries like in USA, Obama administration has been giving a lot of emphasis on environment friendly and low emission car.

Reuters reported:

Honda Motors produces a rival hybrid, the Insight, whose popularity has so far trailed behind that of the Prius.

Toyota plans to add about 10 new hybrid models in the next few years to its existing lineup and to increase the number of sites where it can assemble hybrid models, the Nikkei said without citing sources.

Toyota's global production of hybrid cars is likely to have been 500,000 units in 2009, accounting for about 8 percent of its overall production, the paper said.

So, it seems that this idea of producing more hybrid cars will be a good thing for the company and bring more revenue.

I really cannot understand why American companies like GM and Ford are not that much interested in challenging Toyota in this market. After all as more people are now becoming conscious about environment, the future of this kind of car is only bright.