This is exactly why I've been so excited to see the new Honda Insight. Word out of Japan is Toyota is now at work to develop a cheaper new hybrid at less than 2 million yen ($20,436) in order to compete with the Insight.
This may be early to even get excited about it, but it's to be expected after seeing the early returns on the new Insight.
It's hard to tell what it really means, but the Insight did outsell the Prius in it's first month in Japan. The reason it's hard to tell is Prius sales are depressed in anticipation for the new generation Prius due out in the next couple of months. People are staying away and Toyota is cutting back on production of the old Prius.
Also, since the Insight has been highly anticipated, the pre-orders have been high. It remains to be seen if Honda can keep the pace up for long.
Thursday, March 12, 2009
Toyota May Build a New Cheaper Hybrid in Response to the Popularity of the New Insight
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