Toyota Motor Corp.
said Wednesday it is cutting the price of its Prius plug-in hybrid electric vehicle by more than $2,000 — the latest automaker to cut prices of electric vehicles in the face of less than expected demand.
The Japanese automaker reduced the price on the 2014 Prius Plug-in Hybrid by $2,010 to $29,990 — a 6 percent price cut. The automaker is also cutting the price on its 2014 Prius Plug-in advanced model by $4,620 to $34,905 — an 11 percent price reduction. That model has more features including navigation and infotainment, heated front seats and a heads up display.
Moe Durand, a Toyota spokesman, said the new pricing was a reflection of its competitors’ moves.