Honda Sets U.S. Price for Insight $2,200 Below Prius

Honda Motor Co., aiming to cut into Toyota Motor Corp.’s dominance of gasoline-electric auto sales, set the U.S. base price of its new Insight hybrid car $2,200 below the least expensive version of Toyota’s top-selling Prius.

The 2010 Insight goes on sale March 24 with a range from $19,800 for the base model LX to $23,100 for the top-end version, the Tokyo-based company said in a statement today. Prices for 2009 Prius go from $22,000 for a base model to $27,765 for the Touring version, according to Toyota’s Web site.

“Initially, the lower price won’t matter too much,” said Alan Baum, director of automotive forecasting for Planning Edge in Birmingham, Michigan. “They’re positioning for the midterm, for when the market improves. They think there’s a sweet spot at a lower price point” than Prius.

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- Posted: 2009-03-11 08:05:25

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