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Does the Toyota Prius still matter?

Toyota remains incredibly proud of its green halo car, the Prius. On the company website, it calls the gas-electric car, "The hybrid that started it all." Chances are, if someone tells you to think of a hybrid car today, your first thought is going to be the Prius. Now a cultural icon, the Prius changed a lot of attitudes about what an efficient car is able to achieve. But the car is aging, despite numerous refreshes and model tweaks over the years, and sales dropped 11.5 percent last year. It's taken Toyota 25 years of ups and downs to get the Prius to where it is today, and we started wondering if that's too long for the car to remain viable in an era of 40+ mile-per-gallon non-hybrid cars and a plethora of plug-in competitors for the green car crown (we're not the only ones). Plus, Toyota is rapidly shifting its green focus away from the Prius and towards the hydrogen-powered Mirai fuel cell car. But if you ask Toyota representatives if the Prius is still a vital car in 2015 – and we did – you'll find that there's still a lot of love for the car that went before. For example, Geri Yoza is a Toyota national manager who spent years traveling all across the US teaching people about the Prius. The veteran of countless customer education sessions told AutoblogGreen that it took a long time for the Prius to "cross the technology chasm," and that it wasn't until about a decade after launch that the car became a common sight outside of the initial popularity hotspots. "It takes a while for people to become confident in the technology, to understand that it's been proven," she said. Now that the hybrid is ensconced in the public mind, it's time for the next step. "I think the Prius, the whole idea 'to go before,' was to go before the Mirai." Part of that precursor status is due to the fact that a lot of the Prius' powertrain technology has made the jump to the Mirai. When we asked Bob Carter, Toyota's senior vice president of automotive operations, if the Prius still matters, he had a clear answer: "My goodness, yes." "We've been selling hybrids for 25 years," he said, "but when you go back, we had said that the Prius and hybrid technology were a bridge to the future and we were very clear that it's going to be a very long bridge. Essentially, and I'm not an engineer, the Mirai takes the technology from the Prius and takes the ICE engine out and puts a fuel cell stack in.

How new car shortages may impact your buying experience

If you want further proof that the auto industry is bouncing back, look no further than the empty lots and forecourts of your local dealership. According to a story by The Wall Street Journal, continued high demand for mainstream cars is overtaxing automakers' ability to produce enough models. Several dealers interviewed for the story are reporting two-week supplies as opposed to the typical two-month allocations.
With sales expected to hit 1.4 million units when August numbers arrive shortly and incentive spending down to its lowest amount since January, these limited supplies are pushing prices even higher. For example, according to the WSJ, the average price of a Ford Fusion is up past $26,000. Unfortunately, it's difficult for manufacturers to increase production quickly. If it invests in its facilities, as many manufacturers have done, it risks wasting cash if growth suddenly slows. At the same time, the momentum gained over the past several years could be short lived if vehicle supplies continue to dwindle. "Manufacturers are in a precarious situation," notes Karl Brauer, a senior director at Kelley Blue Book.
Low interest rates and a wealth of desirable features are also allowing customers to purchase more expensive vehicles while justifying their higher overall price tags, a situation that is compounding supply shortages. Even now, during the annual end-of-summer clearance season, deals on new vehicles are remarkably difficult to come by. According to the report, the Toyota Corolla is in a self-inflicted state of shortage, as Toyota clears out inventory in anticipation of the new 2014 generation arriving in dealers. Ford's supplies should rebound as Fusion production comes on line at its Flat Rock, Michigan factory. The Chevrolet Impala, Honda Odyssey, Civic, and Accord and Subaru Forester are also facing shortages.

Auto execs surveyed say VW, BMW most likely to grow

A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years.
Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That's a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot.
Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.