Toyota's new Prius rolls out into price war

Toyota rolled out the revamped Prius on Mon, and said it already had 80,000 advance orders in Japan for the remodeled hybrid amid intensifying competition with Honda's rival offering, the Insight. In Japan, Toyota is hoping to sell 10,000 of the new Prius a month, and an additional 2,000 of the cheaper old-style Prius.

Toyota had already given the US prices for the 2010 Prius - starting at US$22,000, unchanged from the base price for the 2009 model. It is also promising a more basic US model as well for later this year starting at US$21,000. The Insight, which is smaller than the Prius, carries a lower manufacturer's suggested retail price of $19,800 for the base model in the US. Honda has sold 19,492 Insights in Japan since it went on sale in Feb, and 2,665 in the US since Mar.

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