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.
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.