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Toyota Prius: High Demand, Short Supply
The combination of high gas prices and the March earthquake in Japan has left the popular Toyota Prius in short supply, which means many people who want to buy one will not be able to.
According to a report from HybridCars.com, sales of the Prius are up 51.5% over the first three months of this year.
With gas prices showing no sign of declining, demand for the Prius will only go up.
But automakers say Japanese plants are only operating at 50% of usual capacity, so fewer Prii are being turned out.
The Wall Street Journal reports that most of the cars heading to dealers “are spoken for and those that aren’t are often snapped up as soon as they arrive at dealerships.”
Dealerships that usually stock about 30 Prii now only have a handful.
Many buyers are now turning to the used car market, but they won't find much relief there. According to TrueCar.com, the price for a used Prius has jumped from $16,883 in January to $19,376 today.
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