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"Shelton's not the only one. Once the exclusive object of desire for a tiny niche of techno-geeks and tree-huggers, hybrids have percolated into the mainstream and emerged as legitimate alternatives to traditional gasoline-powered vehicles. As recently as two years ago, they were mostly hype. Last year, they became marginally hip, thanks to all of the A-list celebrities who drove them ostentatiously to Oscar galas and other high-profile events. Now, to the amazement of just about everybody in the automobile industry, they're scorching hot.
The Toyota Prius, with its friendly and distinctive dashboard "Power" button, is the poster child for the hybrid car movement. Despite awkward styling and sluggish performance, the current model is so popular that it commands a premium of as much as $6,000 over the sticker price—if you can lay your hands on one. At most dealerships, the waiting list is three to six months. The original American allocation of 36,000 cars for 2004 has been increased to 47,000, and even that won't come close to curing Prius envy.
"Our dealers tell us that they can sell double what we have today," says Ed LaRocque, national manager of advanced technology vehicles for Toyota Motors Sales, U.S.A. Toyota announced earlier this month that it aims to build 180,000 Priuses for worldwide sales next year, a 50% boost over 2004 production, and is studying possible U.S. production of the fuel-efficient cars.
LaRocque expects sales of the Prius, Honda Insight and hybrid versions of the Honda Civic and Ford Escape to hit 88,000 units this year. Next year, he's forecasting sales of 196,000 hybrids as buyers can choose from more than a dozen models ranging from ho-hum family sedans to spiffy sport-utes to honking full-size pickup trucks. By 2006, if product announcements are to be believed, there should be 20 different hybrids in U.S. showrooms. "Our forecast calls for as many as half a million hybrids to be sold in 2007," says Walter McManus, executive director for forecasting and analysis at J.D. Power and Associates. "After that, it could go up to a million by 2011. That's out of 17 million vehicles total, so we don't see hybrids, per se, ever being more than a niche vehicle. But being a niche vehicle doesn't mean it's not successful."
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