Toyota has sold more than three million hybrid vehicles, a key pillar of its earnings, thanks to the global popularity of the Prius model.
The company said on Tuesday that, since the Coaster Hybrid EV and the original Prius entered the market in 1997, it had sold 3.03 million hybrid vehicles worldwide by the end of February 2011.
“With global cumulative sales of its hybrid vehicles passing the three-million mark, Toyota believes such vehicles are starting to enter the mainstream,” it said.
Toyota currently sells 16 hybrid models in about 80 countries and regions around the world. The segment has become the main driver of the company's sales, with the Prius becoming Japan's most popular vehicle in recent years.
The world's biggest automaker brought the petrol-electric Prius to North America, Europe and other major markets in 2000 and it has effectively dominated the category of environmentally friendly vehicles ever since.
However, analysts expect it to face stiffer competition from rivals such as Nissan and Mitsubishi that have focused on battery vehicles.
Toyota's tally of hybrid vehicles reached two million in August 2009, soon after it released the third edition of the Prius in May 2009.
The company estimates that its hybrid vehicles have led to some 18 million fewer tons of carbon dioxide emissions.
Toyota's reputation has been tarnished by millions of recalls including its Prius worldwide for various defects, some of which were linked with fatal accidents in the United States.
It said it planned to introduce 10 new hybrid models by the end of 2012. - AFP