Soaring demand for Toyota’s gasoline-electric hybrids has left suppliers struggling to keep pace, leading to shortages of parts and months-long waits for car buyers, according to four people familiar with the situation.
Stocks of hybrids are low at Toyota dealers across major markets, including the U.S., Japan, China and Europe, two of the people told Reuters.
Why it matters
The surge in demand presents a challenge for Toyota, the dominant player in hybrids. But it also vindicates the Japanese automaker’s bet on the technology against predictions by some rivals that battery-only electric vehicles would wipe out hybrid demand.
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