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Toyota Prices Prius Plug-in at Unexpected $32,760

New model will receives significantly smaller tax incentives than Chevy Volt.

by on Sep.19, 2011

The new Toyota Prius Plug-in on display at the Frankfurt Motor Show.

Toyota delivered an unexpected surprise when it formally announced the launch of its new Prius Plug-in model, revealing it will be priced starting at $32,760, well above what the maker had initially signaled.

That’s a more than $9,000 premium for the lithium-ion-powered version of the Prius, which will be able to deliver up to about 15 miles in electric-only mode.  A fully loaded version of the Prius Plug-in, meanwhile, will go for $40,285.

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The new model will still be about $7,000 cheaper than the Chevrolet Volt – which is seeing its price cut by $1,005 to $39,995 for 2012, including delivery charges.  But that figure can be misleading.  The Volt will qualify for a full $7,500 tax credit under the federal government’s incentive program, while the new Prius Plug-in will receive only a third of that amount.

So the out-of-pocket difference between the Prius Plug-in and Volt will actually work out to only about $2,200.