Toyota to Cut Prices on Hybrids
With more and more automakers offering or planning to offer hybrid models, Toyota is looking to stay ahead of the competition by cutting prices on its hybrids. According to Forbes, Toyota president Katsuaki Watanabe told investors that his company plans to reduce the manufacturing cost gap between hybrid models and regular gas-powered models by 50% to make them more affordable. If all the cost-savings are passed onto the cosumers, this will mean a dramatic drop in the prices of Toyota hybrids. We shall see how quickly Toyota can deliver on this promise.
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