Toyota cuts price for Prius Plug-in hybrid by $2,500

TOKYO (REUTERS) - Toyota Motor is slashing by about US$2,000 (S$2,500) the price of its Prius Plug-in hybrid, continuing a trend of automakers cutting prices for electric vehicles.

The 2014 Prius Plug-in will be sold for US$30,785, including a destination charge of US$795, Toyota's US sales division said. Sales of the 2014 version of the Prius Plug-in will begin in November in 15 states, including California, New York and New Jersey.

Earlier this year, General Motors said it was increasing incentives on its Chevrolet Volt plug-in hybrid and Nissan Motor slashed prices on its electric car, the Leaf.