Toyota unveils new hybrid

Toyota has long been interested in the hybrid car market. Their first introduction to the field came 10 years ago when they launched its first hybrid car, the Prius. So far Toyota's market for hybrid cars has not been very material to their business, but the company expects that the trend is coming it way and within a couple years we could see massive growth in consumers thirst for hybrid cars. Last year the company "only" sold 300,000 hybrids, but by its estimates expects that it will be selling a million plus hybrids each year starting in 2010.

Toyota could definitely be on the right track here. Societal concern of global warming the past couple of years has definitely been on the rise, and this is inevitably going to keep interest in hybrids increasing. Add on top of the current social movement, we also are dealing with record high gasoline prices. Sure, the current high prices of gas are bound to recede, but even if prices do fall back down towards $2 a gallon, that is still not exactly "cheap" gas (although we would all be jumping for joy to pay $2 for a gallon of gas these days).

Toyota rolled out the newest hybrid LS today in Japan and will be starting to offer the car in Europe, North America and Asia, including China, beginning next month.

So all you environmentally friendly consumers with an extra $124K laying around, get ready... your new luxury car is on the way!