Toyota Tells Dealers It Will Use Prius Name on 'a Family of Models' to Drive Sales

Toyota Tells Dealers It Will Use Prius Name on 'a Family of Models' to Drive Sales

By Scott Doggett September 17, 2009

"What's in a name? That which we call a rose."

Shakespeare wrote that for Juliet in his lyrical tale of star-crossed lovers, but Toyota dealers are -- in their own words -- saying the very same today.

That's because the Prius name possesses magical sales powers for the Japanese automaker. As a result, it has decided to sprinkle the name across more hybrid models in its U.S. lineup to boost their sales.

At a meeting in Las Vegas earlier this week of the 60 largest Toyota dealers in the U.S., Toyota executives announced the name Prius would be attached to "a family of models" using similar hybrid powertrains, veteran Toyota dealer Earl Stewart said.

"The Highlander hybrid and Camry hybrid do OK, but calling it 'Synergy Drive' never resonated with consumers," Stewart sad. "But they can make hay on the Prius name. It's a magic name. If somebody says 'I drive a Prius,' everybody knows what he means."

Romeo couldn't have said it better.

Toyota will have a range of Prius hybrid models "but Prius won't be a separate sub-brand like Scion," Stewart said.

A Thorny Issue

Separately, Toyota is launching a $1 billion fourth-quarter marketing campaign, its biggest ever for that period, to boost weak U.S. sales.

The spending is 30-40 percent higher than typical fourth-quarter budgets. Part of the marketing plan involves offering better lease rates by raising the projected resale value of Toyota's vehicles. Companies use probable resale value to calculate monthly lease payments.

The plan comes as Toyota is struggling with its worst downturn since it was founded in 1937 and is expecting to report a loss for the second consecutive fiscal year.

Scott Doggett:  is an AutoObserver.com Associate Editor.