Even during periods of economic depression, there are always some parts of business that see an upswing. Whether this upswing is seen in pre-made meal sales, Walmart sales or in this case the increase in price for Toyota Prius depends on the social pressures applied to the average consumer. That said, there are really two interesting things happening as a result of Toyota’s announcement (see AllCarElectric.com report) that they will phase out the base model and raise the price of the remaining models by $400 across the board—Environmental Consciousness and Supply and Demand.
2010 Toyota Prius
Why do I spotlight these two points? The fact is that the 2010 Toyota Prius is impressing consumers of all kinds and types of backgrounds. You can be a big city commuter or a environmentally concerned suburban dweller or a famous person and still agree on one thing—the Prius. The Prius is “in” car. Why? The environmental impact of our actions is starting to concern people - not just any people - people in the mainstream. This mainstream market buying pattern shows not only an increased awareness in environmentally conscious decisions, but also explains the supply and demand effect that is allowing the Prius to become more expensive.
2010 Toyota Prius combination meter
The real questions is: If Toytoa has an amazing product and people in a depress economy are still willing to pay for it, then why raise the price at all? For some, raising the base MSRP to $22,400 may be enough to make them settle for the Honda Insight. There is no question the 2010 Toyota Prius is hard to beat in the hybrid segment, but why make it harder to afford in today’s economy?
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