New Prius Family May Lead to Price Reductions
Toyota Motor Corp. may lower the price of its Prius gasoline-electric hybrid car in Japan as the brand image of the nation’s best-selling model changes, Nomura Research Institute Ltd. said.
Because of its high sales volume, car buyers are now more likely to think of the Prius as a “friendly” brand than a “leading edge” one, according to a survey conducted by Fumikazu Kitagawa of Nomura’s global automotive practice. As a result, it’s competing with customers who may be drawn to cheaper cars with a strong “friendly” image, such as Honda Motor Co.’s Fit compact, he said.
“As the Prius becomes more of a mass-market car, it may be time to think about lowering the price,” said Kitagawa, who polled 1,972 car owners in November.
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