(autoinsidernews) - Toyota said that it's aiming to increase sales of its hybrid vehicles by 40 percent in 2007, which would take the automaker's sales of the vehicles to 430,000 this year. In 2006, Toyota's overall hybrid sales rose 33 percent due to high fuel prices.
While hybrid sales increased for 2006, Toyota's goal may be too ambitious.
The automaker saw softer demand for its hybrid vehicles as gas prices fell back from record highs and now that buyers of Toyota hybrids are only eligible for a partial federal tax credit, reports Trend.
The introduction of new models, like the Lexus LS 600h, may help Toyota may meet its goal, but the automaker is also expecting to increase Prius production by 40 percent in 2007.