Toyota Prius plug-in drops in price, amid waning interest — Fortune Features

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Toyota Prius Plug-in Hybrid

Toyota Prius plug-in in price, amid waning

October 15, 2013: 5:00 AM ET

consumers aren’t impressed with electric vehicles and to pay what automakers are charging.

By Levin

FORTUNE — The is growing stronger: Average consumers aren’t impressed with electric vehicles and hybrids to pay the kind of prices are charging.

That is, at least, not gasoline gets much expensive, which would the costly technology more

Last week, Toyota (TM ) it was dropping the price of its 2014 plug-in hybrid by $2,000 to depending on the model. The most version starts at $35,000, the model less than

Honda (HMC ), Chevrolet, and Nissan all have dropped on EVs and plug-ins to attract buyers the past six months, at a time post-recession consumer demand is to replace vehicles.

This remains out of reach for most says Alex Gutierrez, analyst at, an automotive organization. He says the price cut bump sales up slightly. But will be weak compared to Corolla and other compacts to achieve close to 40 mpg on the highway and can less than $20,000.

With a pure electric or a as opposed to a pure hybrid, a may run until the battery discharges using any gasoline — a that is attractive to some The Prius plug-in can run for 11 miles on a and is rated at 95 miles per gallon. In mode, the Prius has a combined rating of 50 miles per gallon.

to AAA, the average price of in the U.S. stands at an adjusted a gallon, for all grades, compared $4.54 a gallon a year

Toyota Prius Plug-in Hybrid

Sales of hybrids, EVs, and with plug-in features 267,340 through the end of September, up over the first nine of last year, according to About 70% of that number was sales. Sales of the Nissan an EV, and Chevrolet Volt, an extended EV that some call a each were about for those nine months.

have been skeptical the prospects for EVs and plug-ins, due to their range and a sparse number of stations, on top of the costliness of the batteries and technologies. But under public from regulators and environmentalists, car have invested in the development of vehicles as a good faith to test the public’s receptiveness.

The results for mainstream EVs have disappointing, at least so far, the exception of the luxury segment. (TSLA ) sold about of its Model S sedan, which at $60,000 and can cost more $100,000. The reviews of the car have glowing, sending Tesla’s price into the stratosphere.

GM (GM ) will follow in the luxury with its Cadillac ELR. an range EV based on the same as the Chevrolet Volt.

It’s hardly a surprise a handful of wealthier consumers, three or more cars in garage, are buying Teslas and may an interest in the Cadillac ELR.

But breakthroughs in battery technology lower prices, extend and improve power, it will be a before the average Josephine her hard-earned bucks on a car whose virtue is that it doesn’t fossil fuel.

Toyota Prius Plug-in Hybrid
Toyota Prius Plug-in Hybrid
Toyota Prius Plug-in Hybrid
Toyota Prius Plug-in Hybrid
Toyota Prius Plug-in Hybrid
Toyota Prius Plug-in Hybrid

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