Toyota has announced it is reducing the price of the Prius Plug-In hybrid for 2014. This comes in the wake of many of the plug-in Prius’s competitors slashing sticker prices. Compared to the 2013 Prius Plug-In, the 2014 model gets a $2010 base-price reduction to $30,800; the up-level Advanced model sees its price plunge $4620 to $35,715.
Why go all Wal-Mart on the Prius Plug-In? A Toyota representative admitted to us that the plug-in model hasn’t seen much demand since being introduced for 2012. We’ll add that the slow sales probably have at least something to do with the massive price premium over a comparably equipped, non-plug-in Prius hybrid. (That, and a new Prius is expected to land next year as a 2015 model.) Last year, the gap between the base plug-in and the similarly spec’d non-plug-in Prius III was a mind-boggling $6235. While chewing on that, consider that the plug-in’s fuel economy only betters the regular Prius’s by 1 mpg on the highway (for totals of 51/49 mpg city/highway), and its extra battery capacity only enables 15 miles of electric-only driving at speeds up to about 60 mph.
The good news is that with 2014’s price cut, the gap between the base Prius Plug-In and the regular model—for which final pricing isn’t yet available—should narrow. And the lower price brings customers the same standard kit as last year, with navigation, Toyota’s Entune infotainment setup, keyless entry and push-button starting, heated front seats, and unique 15-inch wheels. It’s a different story for the Plug-In Advanced model, which sheds its previously standard adaptive cruise control, pre-collision system, and LED headlights along with a fair amount of its MSRP. On the upside, these items can be restored as part of the $2610 Technology package. If there’s a silver lining, it’s that buying a 2014 Prius Plug-In Advanced with the Tech package will set you back less than an identically equipped 2013 model. (In fact, the price reduction is $2010—the same amount Toyota stripped from the base model sans any equipment changes.)
- Comparison Test: 2014 Honda Accord Plug-In Hybrid vs. 2013 Ford Fusion Energi
- Instrumented Test: 2013 Toyota Prius V
- Instrumented Test: 2013 Honda Civic Hybrid
While it’s good to see an automaker respond to slower-than-expected sales with an actual price reduction—rather than loading it up with incentives—we’re not sure how much of an impact Toyota’s move will have on Prius Plug-In sales. Loaded up, a plug-in still costs darn near $40K, territory now occupied by the larger, better-equipped, and similarly efficient Honda Accord Plug-In hybrid and Ford Fusion Energi hybrid. Even when considering the less expensive base-model Prius Plug-In, we’d be willing to bet that buyers might still be inclined to jump into the bigger Honda or Ford for similar money.
Source: CarAndDriver
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