As we reported a few weeks ago, Toyota is expected to announce a price cut for its all-new Prius hybrid to allow it to better compete with the lower-price Honda Insight . According to a source within Toyota’s United States operations, the 2010 Prius will retail for $21,000 – a full $1,000 lower than the outgoing model despite increased efficiency and content.
Toyota is expected to officially announce pricing tomorrow, according to Bloomberg.
The Prius will still cost more than the Insight, which starts at $19,800, but the Prius comes with more standard features and also offers higher fuel efficiency – 50 mpg combined, versus 41 mpg for the Honda .
Toyota has not confirmed whether it will cut the price of the existing Prius, which will continue to be sold in Japan. The Japanese automaker is still expected to introduce a low-price Prius variant in the future.
