Toyota Eyes Cheaper Prius to Compete with Honda Hybrid

By dancurranjr On March 12th, 2009

prius-flamesToyota Motor Corp. plans to release a cheaper version of its Prius hybrid car later this year in a bid to compete with Honda Motor Co.’s more reasonably priced Insight hybrid, the Asahi Shimbun reported Thursday.

The paper said that the new Prius will be priced around Y2.05 million, whereas Toyota’s cheapest model of the fuel-efficient vehicle now sells for between Y2.3 million and Y3.4 million.

Earlier this week, Honda said orders for its recently launched Insight hybrid are more than triple the budget-priced vehicle’s monthly sales target.

In Japan, the Insight ranked 10th in February auto sales with sales volume totaling 4,906, while the Prius came in 12th.

SOURCE: MarketWatch

Leave a Reply