“TOYOTA TO DISPLAY CNG-POWERED CAMRY-HYBRID CONCEPT AT 2008 LOS ANGELES AUTO SHOW”
Summary: Toyota is going to introduce its CNG (compressed natural gas) concept vhecle in November 2008 at the auto show. With the changes in environmental awareness and economic conditions, they see better chance of marketing this product than 1990 when their CNG supported car did not have much success.
http://jalopnik.com/5054041/cng+powered-toyota-camry-hybrid-coming-to-la-auto-show
Car industry is doing not good in this economy situation and Toyota is not an exception. “Japan’s Toyota Motor Corp more than halved its profit forecasts, saying annual net earnings will plunge to a 9-year low” http://www.reuters.com/article/businessNews/idUSTRE4A506G20081106?feedType=RSS&feedName=businessNews)
Thus, they need to give consumers VALUE that would appeal to them. Although CNG is not a new innovation, it is a good time for them to re-introduce it.
First, CNG costs less than gasoline. Now, consumers are reducing their spendings. Though gasloine price has come down recently, it is still higher than 1999 when Toyota marketed CNG vehicle before.
Second, it is environmentally friendly. More and more people are aware of environmental concerns now. So what CNG can offer is a good value to envrionmentally friendly consumers.
Car industry is really competitive and other automobile companies are manufacturing CNG concept vehicles as well.
How Toyota is going to differenciate their products are really important for them.