It seems consumers are buying specific fuel-efficient models produced in Japan — namely, the Toyota Prius and Honda Fit — quickly and for more money than they did before the recent earthquake in Japan.
Fear of short supplies and high gas prices are the main reasons, but neither should influence most car shoppers. Why?
Hybrids like the Prius make up their additional costs faster when gas prices are higher. There’s a good chance that gas prices will retreat in the next year, much like they did after $4 gas in 2008. There’s no denying, though, that a $22,000 Prius will cost you half as much at the pump annually as a $22,000 Hyundai Sonata, or about $1,000 a year at $3.57 a gallon. Gas prices have fallen slightly the past few days to $3.54 nationally.
However, dealers say they are only left with more expensive Prius models. The most expensive Prius left in Cars.com’s national inventory is $34,210. Only 288 are currently listed on Cars.com, an extremely low number. Short supply with higher demand also means dealers will be less likely to offer discounts on these specific models. Honda has also told its dealers that it will suspend ordering of new vehicles assembled in Japan scheduled for May assembly. Most Hondas are assembled in North America. But the Fit, CR-Z and Insight, as well as the Acura TSX and RL, are not.