2008 Toyota PriusEnlarge Photo
Toyota has decided to sell both the current Prius, and the upcoming 2010 Prius side by side in Japan for now.
Toyota believes that the outgoing Prius can provide them with competition to the Honda Insight. Toyota has stated that there will likely be rebates on the old Prius to keep in competively priced with the 2010 Honda Insight that has recorded tremendous sales in Japan in only one month since its introduction.
Toyota will sell the 2010 Prius at an estimated $23,000, and the old Prius is expected to undercut that price. Toyota exces believe that there is a market for both vehicles to be on sale at the same time. Toyota Motor Corporation President Katsuaki Watanabe said, "There is demand in the Japanese market for both the thrid generation Prius and the smaller model that is already on sale."
There is no word at this time if Toyota will implement a similar strategy in the U.S. market, as Watanabe declined to comment about overseas sales.
The 2010 Prius in faced with unexpectedly high sales of the low priced 2010 Honda Insight. Sales of the Insight have exceed initial expectations and Toyota expects a discounted previous generation Prius to take sales away from the Insight.
Source: Free Press News Wire
2010 Toyota PriusEnlarge Photo