The Japanese automaker, the world’s largest seller of hybrid autos, has decided to lower the base price of the 2014 Prius Plug-in to $29,990, a $2,010 reduction from the current car, while the top-end Advanced grade gets a 12% cut to $34,905.
As automakers find that cost is critical to U.S. consumers’ willingness to buy rechargeable autos, Toyota in August began offering reduced lease and loan deals for its battery-powered RAV4 crossover to spur its sales. Honda, Nissan and General Motors have all turned to discounted leases, price cuts or both for their rechargeable models.
U.S. plug-in hybrid and battery-only auto sales total about 67,000 this year through September, based on data compiled by Bloomberg. That’s a record and already exceeds the about 52,000 sold in all of 2012. GM’s Volt plug-in is the segment’s top-seller, with 16,760 deliveries, followed by Nissan’s all-electric Leaf hatchback at 16,076, according to the companies.
Toyota is under particular pressure to sell as many plug-in hybrids and battery-only vehicles as possible in California to comply with the state’s Zero-Emission Vehicle program – the company has the biggest share of auto sales in the state and as a result must sell the most low-polluting models.
) - Thursday, October 10th, 2013 - filed under Industry
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