The new Toyota Prius rolled into showrooms in Japan today, and the automaker says it has already received 80,000 advance orders for the car.
That impressive figure, reported by the Associated Press, is four times the number of Insight hybrids Honda has sold since the dirt-cheap gas-electric car went on sale in February. The Insight was the best-selling car in Japan last month, the first time a hybrid has held the top spot.
Honda had hoped to take some of the luster off of Toyota's halo by offering a hybrid for less than $20,000, but Toyota isn't about to relinquish the eco-crown. It plans to sell 400,000 Prius hybrids annually. The base price remains unchanged at $22,000.
"We are resting the future of cars in this model," said Akio Toyoda, the incoming president and grandson of the company's founder.
Toyota is betting on the new Prius to lead it through its worst losses since the company was founded in 1937. Automotive News says the company lost $28 billion in six months, outpacing the losses at General Motors. It says Toyota's decade-long expansion drive increased costs, and its rush to bring to new models to market undermined quality. It also says Toyota focused too heavily on luxury models and trucks at the expense of compacts.
Toyota has sold more than 1.2 million Prius hybrids in 40 countries since unveiling the car in 1997.
Check our our review of the Insight here and the Prius here.
via The Associated Press.
