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Prius may become its own car brand

Discussion and continues to swirl that Toyota is considering making the Prius its own brand, much like the successful Lexus and Scion spin offs. With a high brand loyalty of owners and outstanding name recognition in the hybrid “green” space, this would seem to be another winning move for Toyota.

According to Toyota North American sales chief Jim Lentz, “”You could have a series of derivatives under the Prius brand name that would allow you to market product at a much lower cost. “There is a definite desire for us to do that.”

Toyota expects to sell 175,000 Prius hybrids this year, but is hoping to ramp that figure up to 1 million a year by early next decade. “”To do that effectively, I think we need dedicated hybrids and I would prefer them under the Prius name,” Lentz continued.

By having their own brand, Prius could expand the current line to offer many models including smaller sportier options as well as larger, possibly even a Prius SUV. Toyota would continue to make hybrid models of certain cars, like the Camry, so not all hybrids would fall under the Prius brand.

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Posted in Hybrids, Toyota on 09-19-08
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2 Comments »

Comment by Stevearino
2008-09-19 12:02:34

This would definitely give them more room to grow that brand. Its already so far in the lead for hybrid name recognition that other companies might not catch up if they do this move.

 
Comment by Jim C
2008-09-19 22:08:45

see this as a positive move as well for Toyota. Their brands are always successful so why would Prius be any different?

 
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