Toyota has started selling the third version of its highly popular hybrid car Prius in Japanese car market. The revamped Prius model goes on sale with a price tag of 2.05 million yen ($21,600). Toyota Prius is the leading car model in hybrid car market and since its launch in 2007, more than 1.25 million Toyota Prius have been sold so far.
However, another Japanese auto maker Honda came up with its own hybrid model Insight last February, and since then, Honda Insight has been a threat for Toyota Prius in the hybrid car market. That is why, Toyota has also revamped its Prius model recently in order to stave off the challenge posed by Honda Insight.
Toyota has now decided to sell 10,000 Prius per month in the domestic market (Japan) which is double the domestic target of Honda for Insight. Honda Insight has also become the first gasoline-electric car to have highest monthly sales in Japanese car market. Now, it seems that Honda Insight will also face a strong challenge from the third version of Toyota Prius in the domestic market in Japan.
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