Demand Pushes Price Of Used Prius Above Sticker

JD Power and Associates reports that consumer demand for the Toyota Prius is pushing the price of used models past the sticker price of new vehicles, which are increasingly unavailable at Toyota dealerships. Toyota has experienced prolonged problems with battery production, which has severely crippled the automaker's ability to meet consumer demand.

The sticker price for a Prius varies from about $20,000 - $23,000 depending upon the option package. AP reports that newer, low-mileage Priuses are selling for $26,000 or better, meaning that the vehicle is appreciating. Although not unheard of, the circumstance is rare, and often occurs only among collector and specialty vehicles, rather than ordinary production ones. A similar situation occurred in the early part of the decade with the re-designed Ford Thunderbird.

EPA estimates put the average mileage of the Prius at 48 mpg in the city and 45 mpg on the highway. The Prius was first introduced to the North American market in 2001. Recent rises in fuel costs have spurred interest in the vehicle and others like it. The automaker plans to release a re-designed Prius for the 2009 model year. Even with the impending redesign, waiting for a next-generation Prius isn't chasing away many would-be buyers.

Source: Wired/AP