Toyota Motor Corp. on Monday launched its much-awaited new Prius gasoline-electric hybrid to face off against rival Honda Motor Co.'s Insight hybrid released in February.
Officially priced, as expected, at ¥2.05 million, the new Prius has already sparked a flurry of buy orders. The previous model, equipped with a less powerful engine, carried a ¥2.33 million price tag.
Despite the economic slump, Toyota said it has received orders for more than 80,000 units, compared with the 18,000 orders Honda received for the Insight in its first month.