Mar 7th, 2008 by RJ Menezes
Toyota has officially cut the price of it’s Prius Hybrid in China by roughly $3,000. The move was made in an attempt to keep the Prius desirable in an ever growing market. With both Honda and General Motors now introducing new hybrid models in the Chinese market, the threat to Toyota’s hybrid supremacy is quite obvious.
The Prius hybrid now costs $36,500 in China, compared with $39,700 previously. According to First Automotive Works (FAW) Toyota, this is Toyota’s first price cut on the Prius. Chinese production of the car began in 2005 in a joint venture with FAW. So far the venture has proven to be quite profitable for both parties involved.
FAW Toyota has slashed the sales target for Prius to between 1,000 and 1,500 units this year. In 2005 a goal of 3,000 a year was established, but now it would not be cost effective to produce in such large quantities. It will still keep the car up to date in the publics eye’s and the price cut will definitely give the hybrid’s sales a much needed boost.
Above: Though it looks identical, the Chinese market Prius is produced in a joint venture with FAW…
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