It didn’t seem all that long ago that Toyota bragged about selling one million Prius hybrid electric vehicles. Now the number has gone up to four million hybrids sold globally since first introducing them in Japan in 1997 (more than half of of them being Priuses). This is a remarkable feat considering the upfront premium price associated with purchasing a hybrid vehicle, says Alec Gutierrez, senior market analyst of automotive insights, Kelley Blue Book. Superior fuel economy is the main reason for the strong sales and continued success of the Prius. When it was launched in the US in 2000 with its starting price around $20,000, it was a bit pricey and an unknown technology for early adopters. Fuel prices were only about $1.50 per gallon at the time.
The main draw of the Prius was its industry-leading city fuel economy rating of 51 mpg, about 20 mpg better than the 2001 Toyota Corolla, and it’s become more popular as its own brand name over the years. According to Kelley Blue Book, the 2010 Prius has a trade-in value that is greater than 80% of its original MSRP, significantly higher than the Toyota Corolla which has a retained value of 67% of original MSRP. a
