Nikkei English News in Japan is reporting that Toyota will cut the price of the Prius to meet the lower price of Honda’s Insight hybrid in Japan.
The Insight costs 1.89 million yen ($19,250) while the Prius costs 2.33 million yen ($23,646,000). In the story, which has not been confirmed, it is said the price of the Prius will be cut to 1.89 million yen.
The Honda Inisght has already sold exceedingly well for Honda in Japan and will be in the U.S. in the next few weeks. The Insight gets fewer miles per gallon, but it would be nine years before the premium paid for the Prius is made up for by savings on gas at current prices.
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