CNBC SQUAWK BOX Toyota hybrid RAV4 demand so high some customers have been waiting since March

Two things are going on, Andrew. You have a very popular vehicle. They sold almost a half million last year. That was the previous version. The new version, which started production, you know, late last year, early this year, and they're ramping it up gradually. They don't have the full supply what they've but they still are in demand. And that's because Toyota dominates the hybrid market, has long the hybrid market. One out of every two vehicles, hybrid vehicles sold in this country, they're made by Toyota and a good chunk of them, they are RAV4 hybrids. By the way, you cannot buy a new RAV4 that is a pure internal combustion engine vehicle. It's only built as a hybrid. And there are people like Nancy and Ira Berman from Danbury, Connecticut. They ordered their new RAV4 in March. Still waiting for it. This is not an unusual story. You hear this around the country. And interestingly, when you talk with them like other customers, they're willing to wait. The wait was a slight annoyance. It didn't stop us from going and doing, because we do have our other Toyotas to drive. It was worth the wait. It is sold before you know, when you have cars that are, you know, you have people out there for two months, three months waiting for the car. That's not only good for us as the dealer, it's actually very good for the customer because that just means the demand is there. to hold their value. As you take a look at shares of Toyota, to give you some perspective about the demand for the new RAV4 hybrid, their day supply is how the industry measures how much of the supply is out there. So if you go into a dealership, average is around 60. That's normal. You know what the day supply is for the RAV4 hybrid, guys? Days. When I checked on it yesterday, the person who measures all of this with J.D. Power, I can't give you an exact single day supply for them because it changes. It could be hours when these are being delivered. They literally are going out the door. waiting for them.