Toyota Cuts Price of Prius Plug-In Hybrid by $2,000
Toyota Motorsannounced today that it will cut the prices of its 2014 Base and Advanced Prius Plug-in models by $2,010 and $4,620, respectively. The price cut will mark a drop of 6% from $32,000 to $29,990 for the base model and 12% from $39,525 to $34,905 for the advanced model.
Through Sept. 30, 7,974 Plug-in Pruis models had been sold in 2013, approximately a 4% sales increase over the same period last year. However only 1,152 models were sold this September, compared with 1,652 in September 2012, a 24% decrease.
In August, General Motors also announced a $5,000 price cut on its popular Chevy Volt model, from $40,000 to $35,000.
Year to date, plug-in hybrid market have sales have broken down as follows:
- Toyota Prius: 9,974
- Nissan Leaf: 16,076
- Chevy Volt: 16,760
The 2014 models will begin production in October and will be available in showrooms in November. The Prius Plug-In is currently available in only 15 states: Arizona, California, Connecticut, Hawaii, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Oregon, Rhode Island, Vermont, Virginia, and Washington. The car also qualifies for a $2,500 federal tax credit.
The article Toyota Cuts Price of Prius Plug-In Hybrid by $2,000 originally appeared on Fool.com.Fool contributor Patrick Morris has no position in any stocks mentioned. The Motley Fool recommends General Motors. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.