The latest reports have Toyota pushing back hard against the new Insight from Honda. The newly re-designed Prius is having it's price cut to $20,750 in Japan.
Toyota is also keeping the second generation Prius on sale (again, just in Japan) as a cheaper alternative at $19,130 to match the lower price of the Insight.
Maybe this is just a draw to get customers in and then Toyota dealers can upsell to the more expensive models with all of the options, but the price war between Toyota and Honda is good news for us, but bad news for other car makers who may not be able to compete in this lowest take all war.
GM, for instance, may really end up in a bind when they come out offering the Volt at twice (or more) of the price of a new Prius. But it's unclear if Toyota will bring the hard push here to the US.
Thursday, April 02, 2009
Toyota Cuts the Price on a New Prius to Compete with the Insight in Japan
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