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Toyota to Recharge Prius Plug-in Sales with Lower Price

By: Philly Murtha, 10/10/2013
This week, Toyota reduced the starting MSRP of the base 2014 Prius Plug-in Hybrid (PHEV) by $2,010, to $29,990 before the destination charge, in an effort to boost sales. The automaker said it is not reducing any of the vehicle's content. A higher-end Prius Plug-in Advanced model also will cost less--prices have been reduced by $4,620 to $34,905 before the destination charge. The newly-priced 2014 models will begin reaching U.S. dealer showrooms in November.

Both Prius Plug-in Hybrid models will include added features, such as heated cloth front seats, remote climate control, 10-spoke alloy wheels, and EV Mode, providing the capability to drive extended distances to help increase fuel efficiency. Toyota will also add one additional year of roadside assistance to its ToyotaCare plan--for a total of 3 years of coverage.

The 2014 Prius Plug-in Advanced model will also offer features including a premium navigation and audio system, heated front seats, adjustable power lumbar support driver's seat, head-up display, and a safety connectivity system.

During the past few months, other automakers have lowered pricing on their EV models as well. Nissan reduced the price of its Leaf pure electric vehicle (EV) by adding a base model that is made at its Smyrna, TN, plant. General Motors' Chevrolet brand also has reduced the sticker on the Volt PHEV and has had specials for leases. Honda also dropped the monthly lease price for its Fit EV.

The 2014 Prius Plug-in qualifies for a federal tax credit and also for a special rebate program in California for residents of the state. The car is available in 15 states. Most automakers are required to deal with California's Zero Emission Vehicle (ZEV) mandate, which aims to have 15% of all cars sold in the state be emission-free by 2025. The Prius plug-in Hybrid was first unveiled in late 2011 and is based on a third-generation Prius model with the addition of Lithium-ion batteries.

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