On Friday, Japan's Nikkei business daily reported that Toyota plans to develop a new low-price hybrid car aimed at undercutting Honda's Insight. Earlier this week, Honda announced that the 2010 Insight LX will start at $20,470, including a $670 destination charge, when it arrives in U.S. showrooms on March 24. The 2009 Toyota Prius starts at $22,720, including a $720 destination charge. Pricing for the 2010 Prius, which goes on sale in May, has not yet been announced in the U.S.
Honda says it has bragging rights to the title of "most affordable new hybrid available in the U.S."
Toyota's unnamed Insight rival will sell below $20,510, according to the Nikkei report. It will go on sale in Japan as early as 2011.
The new hybrid is said to be a subcompact with an engine smaller than the Prius' 1.5-liter engine.
Toyota appears to want the crown of most affordable hybrid. Consumers can't help benefiting from this kind of warfare.
Write By : Anita Lienert
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