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At $28,000, plug-in Toyota Prius should be cheapest PHEV in U.S. in 2012

At $28,000, plug-in Toyota Prius should be cheapest PHEV in U.S. in 2012

Posted Sep 15th 2010 11:56AM

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2010 Plug-in Prius Prototype – Click above for high res-image gallery

On Monday, Toyota's head of product development, Takeshi Uchiyamada, announced that by 2012, the Japanese automaker will take hold of the plug-in hybrid market by offering the least-expensive and certainly one of the most efficient PHEVs in the nation. Uchiyamada was speaking of none other than the company's upcoming plug-in Prius and admitted that Toyota's aim is to price its PHEV, "so close to the current version that customers really have to hesitate and think about it." From what we've driven so far, Toyota is right on target.

As we mentioned yesterday, Toyota hopes to begin selling the plug-in Prius in the U.S. by summer 2012 and is eying a price premium of just $3,000 to $5,000 over the base price of a run-of-the-mill Prius. With that info in hand, it appears as though Toyota is targeting a ballpark price of $28,000 for its plug-in, or about $13,000 less than the Chevrolet Volt. Yes, we're well aware that the plug-in Prius only boasts a 13-mile electric range whereas the Volt can travel 40 miles without using a drop of gas, and that the Volt gets a $7,500 tax rebate the Prius PHV will only get a $2,917 tax credit (the way we're calculating this is the base $2,500 rebate for the first four kWh and then the $417 for each additional kWh. Given the PHV Prius's 5.2 kWh pack, that comes to $2,917. We think this is accurate. Correct us if it's not). So, after rebates, the Volt = $33,500 and the Prius PHV is $25,083. We know that $8,500 is not exactly chump change and it could be difficult for buyers to justify the hefty premium for a mere 28 miles of added range. Don't you think?

Related GalleryQuick Spin: 2010 Plug-in Prius

Photos by Sebastian Blanco / Copyright ©2010 Weblogs, Inc.

[Source: Green Car Advisor]

Category: EV/Plug-in, Hybrid, Chevrolet, Toyota, Green Daily

Tags: 2011 chevrolet volt, 2012 toyota prius phev, chevrolet, Chevrolet Volt, chevy volt, plug-in prius pricing, prius pricing, toyota prius, toyota prius plug in, toyota prius plug in hybrid, Toyota Prius plug-in, volt price, volt pricing, VoltPrice

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electric38

Certain markets are going to benefit more than others once the incentives kick in for the development of solar and other renewables. Anywhere there is abundant sunshine, (or wind) should get the calculator out to figure the long term net savings. These cars may be much less expensive than they first appear (uh oh did the Volt pricers hear that).

http://www.ecofriend.org/entry/11-charging-stations-designed-to-refuel-evs-with-renewable-energy/

Swappable batteries (less than 1 minute waiting time) will make this cost even more enticing.

Come out of your slumber Detroit, you have the infrastructure, add some solar on the rooftops to help power the robotic assemblers !

Lets see some good electric vehicle & solar Superbowl ads!

September 16 2010 at 9:20 PM Report abuse Permalink rate up rate down Reply

Green Writer

I've heard some bright people talk about EV's and one guy suggested it would only take a one time $300 billion dollar (or so) investment to add quick charging stations to almost every business, home, municipality and so forth where it's most likely a charging station would be needed. And you'd have them in national parks too, at the beach and places off the beaten path - not difficult considering we've been to planet Mars. That one time investment is a fraction of what we pay in a single year for oil - a drop in the bucket. So this suggestion is in my opinion, a very smart idea, a necessary paradigm shift towards a very tangible opportunity we have with EV's, and what a great way to kick-start shifting attitudes towards the BEV/EV market. It makes so much sense doesn't it, that if we had the infrastructure (which we can afford and have the technology too), there would be a serious surge in interest and demand for EV vehicles. Not to mention plenty of green jobs, brand new jobs - and lots of them in every corner of America, in a hot new industry that we should all put our arms around. If I was running for President in 2012, this would be among my #1 commitments during my 1st term, and I would be known as among the most visionary Presidents ever setting up the foundation for a really green future. Don't say it can't be done, because it will but unfortunately the Federal Government isn't as efficient as we think they are, and this is why private industry is shaping the green revolution. I'm excited how the momentum is building, and we can't forget people thought at one time, gas engines wouldn't catch on. How wrong the naysayers were back then, and now.

September 16 2010 at 8:28 PM Report abuse Permalink -1 rate up rate down Reply

1 reply to Green Writer's comment

montoym

Are you then going to give everyone $30-40K to buy an EV with which to use all those fancy new chargers?

You see, people tend to keep cars for many years(even longer since the economy went south). It's already going to take many decades for EV's to be even close to a majority of cars on the road. Note the story posted on AB(or ABG) a few days back about Ford's estimate. They say that by 2020, they expect only 25% of their sales will be made up of vehicles with some form of battery assist(which includes both hybrids and EV's). That's still leaves 75% that will be solely ICE powered.

I think a better solution is to put that $300B into increasing Ethanol production(and not just with corn) since it can be used in our existing vehicles and doesn't require everyone to buy a new car to make it work.

Look at hybrids as an example. They've beeen on sale for over a decade now, with sales really picking up around 2004 or so. How many hybrid vehicles have been sold in that time? I'll be honest, I don't know the exact figure. But, I'll throw out a figure of 10 million and I honestly think that's high(maybe by a lot). That's a lot of vehicles to be sure, but not really when you compare it to total vehicles sold, which is more than that 10 million each year.

Despite the great sales of certain hybrids, they still only make up a small percentage of total vehicles sold(less than 10%) and this is after more than a decade of sales and with fairly mature versions. They also don't require any dramatic changes from what people are used to either.

You think that building thousands of quick charge stations is somehow going to suddenly make everyone go out and buy an EV? It's going to take exactly that thought process to have that idea make any sort of sense. Otherwise, you're spending $300B to benefit a few hundred thousand EV owners(whch is probably a realistic estimate). Even at 300K EV's in the US, that's $1 million per car for those quick chargers. Just doesn't make sense unless the figures are at least a hundredfold and that's not likely to happen any time soon and probably not without large Gov't tax credits to those buyers(which increases the cost well over the $300B estimate).

I see that as pure fantasy-land utopian thinking that just has no basis in logic or reality.

September 17 2010 at 6:09 PM Report abuse Permalink +1 rate up rate down Reply

Andres

Volt:
Novelty
Range
"American"
Style
OnStar
Prius:
Reputation
Price
Cargo/Passenger space

I would just wait for both to come out so AutoBlog can compare them. Also, Ford will roll out some PHEV product as well. Based on all available knowledge I would just lease the Volt for $350 which is about the same lease payment as one would pay for a Prius (if not less).

September 16 2010 at 2:02 PM Report abuse Permalink -1 rate up rate down Reply

1 reply to Andres's comment

Andres

Oh, I forgot, Volt has much more standard equipment. Its comparable to a top of the line Prius so similarly equipped they will likely be closely priced.

September 16 2010 at 2:06 PM Report abuse Permalink +1 rate up rate down Reply

DriverG

Most important, that Prius will give you 50+mpg regardless of whether or not you plug it in. It's pretty clear the Volt won't come anywhere near that in extended range mode.

September 16 2010 at 9:54 AM Report abuse Permalink -1 rate up rate down Reply

5 replies to DriverG's comment

David

I apologize in advance for this - I know some people like the Volt. And it may be technically better - 40 miles is a long way (though I haven't seen much discussion of the juice keeping a bigger battery charged will use - we drive maybe 4 times a week, so that's a lot of charger time...).

But I just think it's a boring looking car.

So if I can save money, and have a sexier looking vehicle? Sold!

September 15 2010 at 11:30 PM Report abuse Permalink -1 rate up rate down Reply

David Silva

You're right -_-

But I think it is a good bet to say that the 'EV grin' will convert many to the dark side of rabid fanaticism, leading those folk to reconsider their transportation needs in order to fit the 'electric lifestyle'. The 'EV grin' has already bitten me very badly in a short period of time! I spent last month researching how to build my own electric bike, and as soon as i have the funds, an electric conversion of a mid 90's Japanese car ( still haven't decided; thinking CRX or MX-3 ) is on the way.

September 15 2010 at 4:28 PM Report abuse Permalink rate up rate down Reply

4 replies to David Silva's comment

Ra Conteur

$28k Prius PHEV? Excellent. All green cars are welcome going forward! Personally, I would pay another $5k and take the longer AER. But Volt, Leaf and Prius are now poised to lead the mass adoption of EVs. These are good times for innovative car makers.

And considering the massive pollution and traffic issues that India and China face - a good time to be a clean, green car maker.

September 15 2010 at 2:48 PM Report abuse Permalink rate up rate down Reply

Jason

What everyone on here seems to constantly miss is that the automakers aren't making cars for the EV nut or hardcore environmentalist. They are forced to make cars for the average consumer, who is horribly afraid of drastic change, doesn't think more than a week into the future, and is just plain stubborn. Sure, you might be okay with adjusting your lifestyle to accommodate an EV, but the average consumer is just not willing.

I equate hybrid/EV production today to sports car production. Year in and year out, sports car enthusiasts scream out for automakers to bring cars to market that they can drive on the road and take straight to the track. And they're willing to make the commitment to spend more money on repairs, have less storage/seat space, and get lower mpg. But the automakers continue not to produce many true sports cars, simply because the only people that would buy them are the enthusiasts, and the majority of people wouldn't be willing to make the compromises.

I've said it before and I'll say it again. Until BEV's can show that they are far superior to a normal ICE car in nearly every way, they simply won't be widely accepted. Until that happens, we will continue to get a ball of compromises from the automakers designed to sweep those compromises under the bed so people will be subjected to a more "acceptable" gradual change.

September 15 2010 at 2:19 PM Report abuse Permalink rate up rate down Reply

5 replies to Jason's comment

David Silva

Needs more range -_-

But compared to the Volt, i think it holds it's own.. at least when the tax credits expire.

September 15 2010 at 2:06 PM Report abuse Permalink rate up rate down Reply

2 replies to David Silva's comment

Pablo

More cowbell too -_-

September 15 2010 at 6:01 PM Report abuse Permalink rate up rate down Reply

David Silva

Certainly.

September 15 2010 at 6:09 PM Report abuse Permalink rate up rate down Reply

Pablo

GM better make the most out of their less than 2 year lead. In this time, GM needs to establish that there is more than just the range difference between the two vehicles. They are going to have to establish the Volt's performance advantage, out-feature the Prius, and nail the quality.

GM needs over the next 2 years to make the Volt the established and proven benchmark vehicle in the class that all other REEV's/PHEV's must measure up to.

If GM accomplishes this, we will see another repeat of the Prius vs. Honda Insight type of battle. Toyota will come in with a lower priced vehicle that doesn't measure up to the sector benchmark, hoping budget minded folks will buy in based on up-front price. GM will have to do what Toyota did against Honda, and lower their prices some in order to lessen the price gap, but rely upon being the benchmark vehicle in order to maintain sector leadership.

If they do this, the Prius will end up being like another Honda Insight when it comes to market share, and GM will maintain their market position. If that happens, the Prius PHEV will likely just siphon their sales numbers directly out of Prius non-PHEV sales numbers. With Prius hard-cores and current Prius owners being their largest market.

Worst case for GM is that they will be forced to bring the next generation of Volt to market sooner than they might want, in order to battle against a Prius PHEV that may dig into their market share by sometime in 2013. Like an early release of an updated 2014 MY Volt in late spring of 2013 using whatever latest technology batteries will be available at that date.

September 15 2010 at 1:55 PM Report abuse Permalink rate up rate down Reply

3 replies to Pablo's comment