Toyota isn’t being too forthcoming with details of the next-generation Prius, but has in the meantime announced yet another generous price-cut on the current plug-in model. In order to remain competitive in an increasingly affordable segment, Toyota has knocked $2,000 off the price of the plug-in Prius, taking it below the $30,000 mark for the first time to $29,990.
And that’s just for the entry-lever version – go upmarket with a higher-end Prius plug-in and the discount grows to $4,620.
Automakers from all over the world are lowering the costs of their plug-in vehicles as a means by which to jump-start the market and increase its appeal to the average motorist. Cars like the Nissan Leaf, the Chevy volt and the Honda Fit EV have all tumbled in price by thousands over recent months and are expected to continue falling in price for some time to come.
Electric autos represent far less profitable sales than standard cars for automakers, owing to their much higher production costs and the research behind them. Nevertheless, the EV market cannot take off until prices are low enough to fit the average budget of the US motorist.
Toyota Prius plug-in for the month of September fell to 1,152 units, which is 30% lower than at the same time last year. For the year to date, no more than around 8,000 plug-in variants have been sold – slow progress attributed largely to its high starting price.
The Prius range as a whole has however enjoyed another strong year, moving 186,800 units worldwide.
Additional discount are expected to creep into the Prius range as a whole over the coming months, as the launch of the all-new 2015 model draws nearer. Toyota promises that the next-generation Prius has been redesigned and rebuilt from the ground up to deliver a superior and class-leading package of style, refinement, performance, safety and value for money.