Toyota Cuts $2,000 – $4,500 from 2014 Plug-in Prius MSRP

October 23, 2013 lacarguy Green Articles, HybridCars.com, Toyota 0 Comments

by Zach McDonald | HybridCars.com

When the 2014 the Prius Plug-in goes on sale next month, one major change about the vehicle will likely be very pleasing to consumers: its price. Base MSRP for the 2014 Prius Plug-in will be lowered to $29,990 (before state and federal incentives,) with pricing for the feature-loaded Advanced model cut to $34,905. The price decreases total $2,000 and $4,500 respectively.

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The car is also eligible for a federal tax credit of $2,500 and a California state rebate of $1,500, meaning that drivers in the Golden State will be able to bring one home for as little as $25,990. Other than the change in price, the 2014 edition of the car will be identical to the 2013, and there will be no stripping down of amenities to accomplish the reduction.

Toyota’s decision to cut prices for the Prius Plug-in comes late in a year when nearly every producer of a mass-market electric vehicle has moved to make their cars more affordable in an effort to win customers. But for Toyota, the discount doesn’t seem to stem from low sales numbers. The Prius Plug-in—which is currently only available in 15 states—ranks third among plug-in vehicles in sales so far this year, behind only the Nissan LEAF and Chevy Volt.

The breakdown of the top-selling plug-in cars for September 2013 reveals that each of the pack leaders offer something different to buyers: the LEAF is an affordable limited-range EV; the Volt is a slightly pricier extended range PHEV; the Prius Plug-in is a shorter range PHEV with high MPGe and superior fuel efficiency in hybrid mode; and the Tesla Model S is an expensive electric sedan with a range at least double that of any other EV. Each car occupies its own place in the market, but Toyota is hoping that this newest price cut puts the Plug-in Prius on radar for more customers.

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