Toyota continues to improve hybrid leader Prius
Even with a spate of new gasoline-electric hybrid vehicles coming onto the market this year, there still is nothing out there that comes close to the fuel economy of the Toyota Prius, the hybrid by which all others are judged.
Toyota introduced the third generation of the Prius earlier this year as a 2010 model, boosting its EPA ratings to 51 mpg city/48 highway versus 48 city/45 highway for the previous model, which went on sale in 2004.
The closest challenger to the Prius is the new, compact Honda Insight. It’s a Prius look-alike with a starting price just below $20,000 — but with fuel-economy ratings of 40 mpg city/43 highway, considerably below those of the Prius.
Also available for 2010 are new hybrid versions of the Ford Fusion and Mercury Milan midsize sedans, which have the same drive system and EPA ratings of 41 city/35 highway, the closest competitors to the Prius when measuring by interior space and fuel economy.
Prius prices, for now, range from $22,400 to $27,670 (plus $750 freight), which gives the Toyota a starting price $2,600 higher than that of the Insight, which begins at $19,800 (plus $710 freight) and tops out at $23,100 (including navigation).
Honda does not offer all of the high-tech gadgetry that Toyota added to the newest Prius, but the Insight is very well-equipped even at the under $20,000 base price.
Toyota plans to offer a $21,000 version of the new Prius, with fewer standard amenities, beginning later this model year. This version will be the most direct competitor to the Insight.
A five-tiered pricing strategy will be used for the Prius, with the lowest-cost version to be called the Prius I.
Next in line, and already available, are the Prius II, III, IV and V models.
The Prius II comes with the same standard equipment as the 2009 base model and also has the same price — $22,000.
Prices top out at $27,670 for the Prius V. But its price can be raised an additional $4,500 by the Advanced Technology Package, which brings a navigation system, a parallel-parking assist system, radar cruise control, a pre-collision warning system and a lane-keep feature.
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