Toyota answers the Hyundai Ioniq threat, by lowering the price of the Prius.
(Photo : Kelley Blue Book/Youtube)
Toyota has found itself backed into a corner in the last few days. Hyundai has managed to deliver a more sustainable and less costly vehicle, which threatens their place in the hybrid market. The situation has not gone unnoticed by either Hyundai, Toyota or the commercial buyer.
Car and Driver reported that Toyota will be shaving-off $1210 from the price of the 2017 Prius base model. This comes as retaliation towards the release of Hyundai’s Ionia Blue. Apparently, the hybrid market is the new gold mine and everyone is trying to fit on the market for as bigger share as they can. Even after the 2017 Toyota Prius has received a major cut from its base price, it is still more expensive than the Hyundai Ionia. Another strong point for the Hyundai is the fact that their model is much more economic. While Toyota’s best numbers reach 56 mpg, the Hyundai Ionia Blue hits 58 mpg.
But, is there any real reason for Toyota to worry, when it comes to the cheaper alternative which Hyundai has offered potential clients. NY Daily reminds its readers that it was Toyota and Hyundai who first started working on the hybrid market. By being pioneers of the hybrid automobile industry, they have managed to create both a stable fan base and a name on the market. Since both are trusted brands with a long history in the business, it leaves little space for doubt.
The majority of Toyota supporters will not switch to the Hyundai, based solely on the lower price since Toyota has managed to create a serious base of loyal customers over the past years. Still, if the gap in fuel efficiency grows, it will be the push needed for some of the people to switch providers when it comes to buying a new automobile. The Toyota Prius is available for purchase Worldwide.