Toyota Motor Corp. announced it is cutting the price of the 2014 Toyota Prius Plug-in Hybrid by more than $2,000.
Toyota has reduced MSRP on the 2014 Prius Plug-in Hybrid by $2,010, making the starting MSRP $29,990 (excluding DPH).
The Prius Plug-in Hybrid is well-equipped (similar to a Prius Three), but adds these appealing features:
– Heated cloth front seats – a unique standard feature available only on Prius Plug-in
– Remote Climate – a feature that allows customers to activate their A/C remotely (standard on Prius Plug-in, available on Prius Three)
– Ability to drive extended distances in EV Mode, helping to increase fuel efficiency
– Unique 10-spoke alloy wheels
– 1 additional year of Roadside Assistance through ToyotaCare, for a total of 3 year
Pricing for the 2014 Prius Plug-in Advanced model has also been adjusted to make the model more accessible to consumers with a $4,620 reduction in MSRP to $34,905 (excluding DPH).
The Prius Plug-in Advanced will still offer popular features including:
– Premium HDD Navigation with Entune® App Suite (including Plug-in Hybrid Applications) and JBL
– SofTex-trimmed heated front seats
– 8-way power-adjustable driver’s seat with power lumbar support
– Head-Up Display
– Safety Connect
The 2014 Prius Plug-in Advanced will offer DRCC (Dynamic Radar Cruise Control, PCS (Pre-Collision System), LED headlights and fog lights as part of an optional Technology Package for customers seeking the highest level of technology.
Production of the 2014 model year Prius Plug-in begins in October with pricing taking effect when these models arrive in showrooms in November.
Most of the plug-in electric vehicles are eligible for a $7,500 federal tax credit. The Prius Plug-in with a smaller battery pack is eligible for a $2,500 federal tax credit.
The Prius Plug-in is available in 15 states (California, Oregon, Washington, Arizona, Maine, Massachusetts, Vermont, New Hampshire, Rhode Island, Connecticut, New York, New Jersey, Maryland, Virginia and Hawaii).
Toyota is the latest automaker to cut prices of electric vehicles in the face of less than expected demand.
General Motors Co. said in August it was cutting the price of its plug-in hybrid Chevrolet Volt by $5,000. The price cut came shortly after the automaker announced a $5,000 incentive on the 2012 Volt and $4,000 on the 2013 model.
In July, Ford said it would reduce the price of its low-selling Focus EV by $4,000 for the 2014 model year. The old price of the Focus EV was $39,200; the new price is $35,200. Ford also offered lease discounts of more than $10,000 and $2,000 off the base price for cash purchases.
Sales of Nissan’s all-electric Leaf have jumped since the Japanese automaker dropped the base price by 18 percent, to $28,800 for the 2013 model year. Nissan also added extra cargo room, and for higher-end trims, an on-board charger that reduces electric charging times by half.
Honda announced in May it was cutting the monthly lease price of its Fit EV from $389 to $259 a month and reduce by $130 a month the cost of existing Fit EV leases. The revised lease has unlimited mileage.