Despite Toyota ’s bid to undercut the new Honda Insight hybrid with cheaper versions of its popular Prius, Honda says it has no plans to get into a price war with its cross-country rival. The Honda Insight has only been on the market for a few weeks – even less here in the U.S. – but is already outpacing sales predictions.
Honda president President Takeo Fukui told Automotive News that his company is not interested in getting into a hybrid price war with Toyota. “I don’t think that would be meaningful to do so,” Fukui said of the proposition. As such, there are no plans for a cheaper version of the Insight.
Toyota has yet to price its third-generation Prius for the U.S., but early estimates predict the popular hybrid will retail from around $22,000. On the other hand, Honda Insight pricing starts at under $20,000 (not including destination) and tops out just above $23,000 fully loaded.
Toyota is planning to sell its current-generation Prius alongside the next-gen car at a discount in Japan, but it remains to be seen if Toyota will employ a similar strategy in the United States.
