Sources say that giant automobile company, Toyota Motor Corporation, is set to offer its hybrid Prius at a lower price. The said price cut back will start once Toyota starts the sale of their third-generation Prius. He more fuel-efficient Prius is scheduled to be available later this year.
Experts say that Toyota’s move of cutting back the price of Prius is actually a counter move for competitor Honda Motors newest Insight hybrid car. The latter’s hybrid vehicle is set to be released by February of this year.
According to a report in The Nikkei, Toyota plans to cut back the price of the current Prius because the new model would cost a lot more than its predecessor. According to the Japanese company, the new Prius will boast of a 1.8 liter engine-an innovation from the original 1.5 liter of the present model.
With the said upgrade of the engine capacity, the new Prius is expected to improve fuel efficiency by an approximate of 10% 36 kilometer per liter. Insiders said that the said feature is also the reason why the new Prius will be offered at around 2.5 million Yen.
Toyota Motors has recently announced that the new Prius is targeted at clients coming from the corporate level.
The sale of the present Prius will also be limited once the new version is out in the market. As of press time, Toyota plans to distribute the new version to all of its four major channels. The current Prius, on the other hand, will only be made available to its two major depots.