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Toyota Said to Slash Prius Price in Duel With Honda (Update1)

By Doron Levin

April 20 (Bloomberg) — Toyota Motor Corp., the world’s largest automaker, will cut the base price of its Prius gas- electric hybrid model by $1,000 to $21,000, as it competes with Honda Motor Co.’s Insight, said a person familiar with the matter.

Honda introduced the Insight on March 24 with a sticker price starting at $19,800, undercutting the 2009 Prius, which starts at $22,000. Toyota will announce prices on the 2010 model tomorrow, with details about the new car tomorrow, said the person, who asked not to be named because the statement is pending.

The two hybrids were introduced more than a decade ago. Since then the Prius has led in sales, accounting for half of all such models sold in the U.S. Honda dropped the original two- seat Insight in 2006 and revived the name this year with a bigger version.

Insight’s fuel efficiency is rated at 41 miles per gallon, combined for city and highway driving, said Sage Marie, a Honda spokesman.

Prius, classified as a midsize sedan, will be rated at a combined 50 miles per gallon, said the person familiar with the price.

‘Huge Brand’

A Toyota spokesman in Japan declined a month ago to confirm or deny a Nikkei newspaper report that the automaker planned to cut the price of its older model Prius to match the price of the new Insight.

New Prius models will be available in a month; the cheaper ones not until later in the year, said the person.

Details were disclosed to a small group of Toyota dealers today at a meeting in Washington, D.C., said the person.

“Prius has become a synonym for hybrid, it’s a huge brand unto itself,” said David Fischer, a car dealer based in Troy, Michigan and owner of a Toyota franchise. “Insight will do the same for Honda. The hybrid is no longer a boutique concept, it’s becoming mainstream.”

Through the first quarter of the year Prius sold 24,277 units in the U.S., off 43 percent from a year earlier. Insight sold 569 cars in March, when it had limited time in the U.S. market.

The new Prius is the model’s third generation, billed by Toyota as bigger and more fuel-efficient.

To contact the reporters on this story: Doron Levin in Southfield, Michigan, at dlevin5@bloomberg.net

Last Updated: April 20, 2009 18:52 EDT

Sorry about the lack of exciting Earth Day info….I hope everyone is taking a little extra time today to do something a little extra to leave less of an impact on the environment.

#1 Toyota Prius Dealership in New England Accepting Pre-Orders for 2010 Prius
Acton Toyota of Littleton Eagerly Anticipating Launch of 3rd Generation Prius
Pre-Sale Orders of new 50 MPG Prius Hybrid Start at Massachusetts Toyota Dealership

New England’s #1 Retailer of Toyota Prius for 2008 has begun accepting pre-sale orders for the new 2010 Prius hybrid which is scheduled to go on sale in the United States in mid-June.

“Hybrid sales, especially Prius, have always been a focus of Acton Toyota of Littleton,” according to General Manager Mike Hills. With the launch of the all new, 3rd generation 2010 Prius Acton Toyota expects to retain its #1 sales rank for Prius in Toyota’s Boston Region which encompasses Massachusetts, New Hampshire, Maine, Vermont, Rhode Island, and parts of Connecticut.

Advance orders for the new Prius in Japan, where the hybrid vehicle is built, are expected to reach 40,000 units by the time the car goes on sale in mid-May, according to newspaper reports.

According to a story in Automotive News “local newspapers including the Chunichi and Nikkei reported that Toyota dealers in Japan had received orders for more than 20,000 units of the third-generation Prius.” The article went on to state that “Such a pace would easily overtake Honda Motor’s Insight model.”

The first-generation Prius was rated at 41 EPA mpg,and the second-generation model pushed that figure to 46 mpg. The 2010 model marks another significant incremental improvement to 50 miles per gallon (combined city/highway).

Customers who want to view the available inventory of new and pre-owned vehicles, including the Prius, are encouraged to visit their website: http://www.actontoyota.com . The dealership will provide a no obligation, upfront internet price quote for online Prius shoppers.

Recognized as one of the country’s top 40 retailers for vehicles on the Internet, Acton Toyota of Littleton has a number of Hybrid specialists on staff that can answer questions regarding Hybrid vehicles, including the new 2010 Prius.

“A small deposit is all that is required to be among the 1st consumers in New England to own a 2010 Prius”, according to Craig Belowski, General Sales Manager, of Acton Toyota of Littleton. In the past, most Prius customers have had to wait for up to several months for their Prius to arrive at the dealership. “Customers who place a pre-sale order with Acton Toyota now will receive priority when the new 2010 Prius arrives in the U.S.”

The dealership will provide a no obligation, upfront internet price quote for online Prius shoppers.

Massachusetts Toyota Dealer Tops in Prius Sales
Toyota Names Acton Toyota of Littleton #1 in Prius Sales
Toyota Hybrid Car Sales are Booming at Massachusetts Toyota Dealership

Toyota Motor Sales, USA has once again recognized Acton Toyota of Littleton for outstanding sales results, this time for achieving the #1 sales rank for Prius sales for calendar year 2008 in Toyota’s Boston Region. The Boston Region of Toyota encompasses Massachusetts, New Hampshire, Maine, Vermont, Rhode Island, and parts of Connecticut. Acton Toyota of Littleton competed against 72 other Toyota dealerships to attain this honor.
“Hybrid vehicle sales, and especially Prius, have always been a focus of Acton Toyota,” according to General Manager Mike Hills, “and now our efforts have resulted in the dealership selling more Prius than any other Toyota dealership in New England for 2008.”
Most Prius customers have had to order a vehicle and wait for several months for their Prius to arrive at the dealership. With increased production of the 2009 model Prius, there is improved availability and the Massachusetts Toyota dealer reports that it has a good selection of Prius models, equipment packages, and colors in stock and available for immediate delivery for the first time.
“Prius buyers now have a better selection than at any time since we began selling the hybrid Prius” says Craig Belowski, General Sales Manager of Acton Toyota of Littleton. “Not only do we have Prius in stock, but buyers can take advantage of terrific incentives from Toyota as well.”
Toyota has just announced it will continue its exceptional March incentive program for the 09 Prius throughout April. Even better, Toyota will also enhance those programs by adding a special low 4.9% finance option for 60 months to qualified buyers.

This means buyers can take advantage of either:

$1,000 customer cash rebate

Special Lease Program with $500 bonus cash

4.9% financing for 60 months

With an inventory of nearly 50 new 2009 Prius, potential customers are certain to find the highly rated Prius of their choice in stock at the Littleton, Massachusetts dealership.
Customers who want to view the available inventory of new and pre-owned vehicles, including the Prius, are encouraged to visit their website: www.actontoyota.com. The dealership will provide a no obligation, upfront internet price quote for online Prius shoppers.