Toyota's Prius Named `Car Of The Year' By Magazine

Torrence California November 26,2003; Toyota's Prius gasoline-electric hybrid car is Motor Trend magazine's "Car of the Year," an image booster for the popular auto and a fresh sign that hybrids are gaining greater traction in the U.S. market, Wednesday's Wall Street Journal reported.

To win over Motor Trend, the Prius outmaneuvered General Motors Corp.'s revived Pontiac GTO muscle car, DaimlerChrysler AG's German-American inspired Crossfire, and other sexy speedsters from Bayerische Motoren Werke AG and Cadillac. Once considered somewhat dopey in the automotive crowd, the redesigned Prius is selling briskly.

Dealers sold 4,027 in its first two weeks after it was introduced last month. The company estimated weekly sales at 700. Toyota officials are now targeting annual sales of 47,000, which is 25% above the initial projections. The car is priced at $20,000. Honda Motor Co. is having similar success with its hybrid model of the popular Civic.

Toyota gave the new Prius a wider body and longer dimensions, allowing for more interior space. The Prius gets about 55 miles per gallon, twice the fuel economy of other midsize cars. The strength of the new design, auto writers say, is Toyota's skill in taking a daily commuter car and transforming the technology underneath in a way that is nearly invisible to drivers.