The all-new Honda Insight LX model is priced at $19,800 (excluding shipping). This pricing point was one of Honda’s goals, the company wanted to not only price the Insight under that of the Toyota Prius but also come in under the $20,000 mark. There are already reports out that Toyota is going to make a new, smaller hybrid that will be priced less than the Insight. Today, Bloomberg News is reporting that Toyota may also reduce the price of the Toyota Prius to compete.

If you are in the United States and were thinking about buying a new Prius, don’t get your hopes up – this rumored cut will only be in Japan (if it does, in fact, come to fruition.)

“Toyota spokesman Yuta Kaga declined to confirm or deny a Nikkei newspaper report today that said the starting price of the Prius will be cut to 1.89 million yen ($19,250) from 2.33 million yen. The Insight hybrid, which went on sale in Japan last month, starts at 1.89 million yen.” (Source: Bloomberg)

However, due to the popularity of the Prius in the states, this price drop may eventually make its way from Japan to domestically sold models as well.

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Filed Under: honda, toyota

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