April 11, 2005
Demand for the Toyota Prius is so intense that some of the used hybrids are selling for more than the list price for a new one.
USA Today reports that buyers who want to avoid the typical two-month waiting period for the hot Toyota model are paying a premium. The market for the used Prius is so strong that some owners are trying to sell them for more than they paid for them.
Record gasoline prices are stoking the Prius market. The hybrid uses an electric motor in addition to a gasoline engine The Environmental Protection Agency estimates the car gets 51 miles per gallon on the highway and 60 mpg in the city.
That is not a mistake. The Prius drive train produces better gas mileage in the city than on the highway.
The 2005 Prius also had the highest owner satisfaction of any 2005 model, according to an owner survey by Consumer Reports magazine.
Buyers of new Priuses are paying above the sticker price for the cars and that is helping to support the price of the used cars. The new car lists for $20,975 to $26,640, Toyota says.
