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Toyota Puts the Brakes on Prius Production
Just as sales are getting underway of the all-new, fourth-generation 2016 Toyota Prius, the automaker plans to halt production due to steel shortage.
An explosion at supplier Aichi Steel Corporation’s plant in Japan is causing Toyota to suspend factory lines from Feb. 8 through the 13th, according to Automotive News.
In addition to the Prius, many Lexus (CT, IS, GS, GX, LS, LX, NX, and RC) and all Scion models are imported from Japan.
The automaker is expected to source steel from other locations, including China and Korea, to keep production rolling. The Prius was being built at an average rate of 1,600 cars a day for worldwide distribution, but projections see Prius production dropping to about 500 cars a day until the end of March even after production resumes.
The shutdown will not affect North American production should not be impacted, leaving much of the Toyota line protected from the home-market problems.
What this means for consumers is that the new car may be in limited supply in the coming weeks, curtailing color and option choices, as well as reducing negotiation room. Right now, there are about 3,000 unsold Priuses at U.S. dealerships, with about 5,000 more en route. Those cars are to be shared among 1,200 Toyota dealerships.
In addition, it was expected that the remaining inventory of 2015 Priuses would be cleared off lots with generous customer rebates. (There are about 3,000 2015s available, as well.) But those incentives will likely not be as grand as a consequence.
Production is said to be affected from February 2, and the supply impact will be felt a couple weeks later, starting on the West Coast.
Fortunately, Consumer Reports was able to purchase a 2016 Toyota Prius Three a few days ago, with a sticker price of $27,323. We are currently adding up the break-in miles, in anticipation of testing in the weeks ahead.
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