Toyota Prius to Match Sticker Price of Honda Insight

Toyota decides to meet the Honda Insight head on as it cuts the price of its Prius in the Japanese market by starting at $20750 which will be at par with their number one competitor.

Japanese car dealers were informed of the price slashing for the 1.8L hybrid re-engineered Prius a week before the end of March.

Gray Toyota Prius

In the US the Honda Insight has a starting price of $20470 as it rolled down the market in March. The third generation Prius will hit the market with a $24000 sticker.

Toyota refused to reveal the pricing strategy it will use for the US market but car experts speculate that it will be a cut throat move to dethrone the Honda Insight as the most affordable hybrid vehicle in the market today. If it will be based on their moves in Japan, Toyota is expected to have aggressive surprises.

Honda Insight

Toyota might be using the pricing scheme to lure in the market in Japan to switch to higher trim cars. The present generation Toyota Prius sells for 2.331 million Yen or about $23590. The bigger and more efficient hybrid from Toyota can easily out class the Insight.

The Prius pushes the Insight aside with a far better mileage at 51 mpg city driving and 48 mpg on the highway. The Insight shows 40 mpg on the city while 43 on the highway.

The current generation of Prius will still be sold in Japan alongside the new gen Prius due for release on May 18. The next Prius is expected to have a better interiors and a better tag price at 1.89 million Yen or $19130. The new Prius will be rebadged as the EX which primarily aims to attract fleet buyers.

Filed under:Honda, Toyota

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