Add the popular Toyota Prius to the list of American-made cars.
The AP reports, "Stung by rare double-digit sales declines and burdened by a growing inventory of slow-selling pickups, Toyota said Thursday it will start producing the Prius hybrid in the U.S. and will shut down truck and SUV production to meet changing consumer demands." Toyota will begin building Priuses at a yet-to-be-completed plant in Blue Springs, Mississippi.
Until now, all Priuses have been manufactured in Japan and China.
Marketwatch adds, "With gas prices taking out record highs on a regular basis, the Prius and its 40-plus miles per gallon have made Toyota the poster-child for still-emerging hybrid technology. The company is now having a difficult time keeping up with demand.
Through the first half of the year, Prius sales have actually dipped 2.6% while the Camry, which toppled the F-Series pickup as America's best-selling vehicle in May, has seen its unit sales buck industry trends with a slight advance."
According to Bloomberg, the U.S. buys 60 percent of the Priuses Toyota manufactures, but "Production constraints on the car, now built mainly in Japan, have left U.S. dealers with a five-day supply" of the car. Most automakers aim to have a 60-day supply of each model at any given time.
AFP notes, "Toyota also said Thursday that it would temporarily suspend production of its Tundra pickup truck and Sequoia SUV beginning August 8. Production is due to resume in November. The company said that affected workers would continue to be provided work." Toyota sold approximately half as many Tundras this June as it did in June of last year.
The next-generation Prius is expected to reach up to 94 mpg, and may offer optional solar panels.
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