Toyota to Slash Price of E-car

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With the growing popularity of electric-car, Japanese carmaker Toyota Motor Corp. recently announced it will cut the price of its popular electric-car Prius to $21,000 in an effort to compete with Honda Motor Co.

Meanwhile, these two e-cars were introduced in the US almost a decade ago, with Toyota accounting for more than half of the sales in the market.

Japanese carmaker Toyota Motor Corp. recently announced it will cut the price of its popular electric-car Prius to $21,000 in an effort to compete with Honda Motor Co. which is a growing market for affordable e-cars, according to a Bloomberg report.

With the growing popularity of e-cars which are said to be more environment-friendly than most car models, the two carmaker giants are fighting neck-to-neck by slashing the price of its e-car models. Just recently, Honda announced its Insight will come at a starting price of $19,800, more affordable than Toyota Prius which cost around $22,000.

But the competition of price doesn’t stop there as Toyota plans to slash $1,000 from its Prius.

The market for hybrid cars has been around in the US for almost a decade, with Toyota accounting for nearly half of the sales. Meanwhile, Honda is struggling to maintain its market in the country as its previous hybrid model with 2-seater is not widely accepted.

This year, Honda has introduced a bigger version of Insight to urge Americans to buy the hybrid car.

According to some car experts, Toyota Prius’ popularity among consumers is attributed with its energy-efficiency as it can travel 50 miles per gallon of fuel compared to Honda Insight’s 41 miles per gallon.

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Toyota to Slash Price of E-car

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