Toyota says profit per hybrids will equal gas-only cars

Yes, while the Big Three continue to fiddle in the face of relatively high gas prices, Toyota continues to burn them up.
Here’s the details:

Toyota expects to cut costs for hybrid cars enough to be able to make as much money on them as it does on conventional gasoline cars by around 2010, a top executive said on Thursday.

Japan's top carmaker has been keen to see the fuel-saving powertrain enter the mainstream since launching the Prius, the world's first hybrid car, in 1997, but sales have come at the expense of profitability given their high production costs.

But Masatami Takimoto, executive vice president in charge of powertrain development, said cost-cutting efforts on the system's motor, battery and inverter were bearing fruit, and the cost structure would improve drastically by the time Toyota reaches its sales goal of one million hybrids annually in 2010 or soon after.

“By then, we expect margins to be equal to gasoline cars,” he told Reuters in an interview at Toyota's headquarters in Toyota City, central Japan.

If it succeeds, Toyota, on its way to becoming the world's biggest carmaker, will be removing the main hurdle to cost-competitiveness for the hybrid — the expense of the powertrain, which twins a conventional engine with an electric motor. It will also likely widen its sales lead as more consumers seek better mileage amid rising fuel costs.

Can we say “sayonara,” GM, Ford, DaimlerChrysler?