Toyota Will Hold Line on Pricing of Second-Generation Prius, Offer Early-Buyer Program for 'Prius Pioneers'

TORRANCE, Calif., July 2 -- When the larger, more powerful and more fuel-efficient 2004 Toyota Prius electric-gas hybrid goes on sale this fall, it will carry a sticker price of $19,995. Not only is that the same price as the current-generation Prius, it's a price that hasn't changed since the vehicle was launched in the U.S. three years ago.

"The second-generation Prius will move from a compact-class vehicle to a midsize," said Don Esmond, senior vice president and general manager, Toyota Division. "It will deliver double the fuel efficiency of any midsize sedan on the road, and will accelerate on a par with the Camry. Its new Hybrid Synergy Drive system will provide the best emissions ratings in the industry. Best of all, it will be an absolute steal at under $20,000."

When the first-generation Prius was launched in the summer of 2000, all sales transactions were initiated by early-buyers on the Internet. The process culminated with vehicle delivery at a Toyota dealership of the buyer's choice. Toyota refers to these initial owners as "Prius Pioneers" for their leap-of-faith in an all-new, but promising technology. Most importantly, many of these early buyers became outspoken advocates of the Prius and its hybrid technology, strongly recommending the vehicle to family and friends ... and anyone tuned in to Internet chat rooms.

"We are convinced that the remarkable success of the first-generation Prius can be attributed to the Prius Pioneers," said Esmond. "Of course, they were important because they purchased the Prius. But, more importantly, they have been persuasive and enthusiastic advocates of both the product and the technology. As a way of saying thanks, we have developed an early-buyer program, giving these Prius Pioneers an opportunity to be first in line, again."

The one-time Prius early-buyer program will run from June 30th to July 20th. Nearly 18,000 Prius Pioneers have been identified and will be notified via the Internet, and with a follow-up letter, beginning on June 28th. Vehicles will be delivered at Toyota dealerships beginning in mid-October, when the Prius officially goes on sale, nationwide.

The 2004 Prius had its world premiere at the New York Auto Show last April. Bigger and better in every metric of comparison, the all-new 2004 Prius will usher in a new era of electric-gas hybrid technology.

The Hybrid Synergy Drive is expected to increase fuel efficiency in the 2004 Prius by 15 percent with combined city/highway mpg rising from the high 40's to the mid-50's. This will enable Prius to have the best fuel efficiency rating of any midsize vehicle sold in America, delivering twice the combined mileage rating of its closest competitor. What's more, the midsize Prius will also boast a higher combined mileage rating than any compact sedan sold in America.

Hybrid Synergy Drive will significantly improve acceleration performance from the mid- 12-second range to the mid- 10-second range. This acceleration level is comparable to the Toyota Camry LE four-cylinder.

Finally, Hybrid Synergy Drive will enable Prius to be nearly 30 percent lower in emissions than the current ultra-clean Prius, producing nearly 90 percent fewer tailpipe pollutants than a conventional internal combustion engine.

The all-new Prius will feature dramatic and distinctive aerodynamic styling in a four-door lift-back configuration. With its triangular mono-form shape, it is a dramatic visual departure from the original Prius, and contributes greatly to one of the most aerodynamic production vehicles on the planet.

Public Web site: http://www.toyota.com/