A Toyota Korea source said Monday the company is considering releasing the third-generation Prius in Korea, Japan and the U.S. simultaneously on its scheduled release date in April 2009.
Toyota Motor Global Sales Vice President Akio Toyoda, the fourth generation heir of the Japanese motor giant, met with Toyota Korea executives in Japan to discuss a model suitable for the Korean market.
"Because Lexus is a luxury car targeting the rich, it can't become that popular in Korea," Toyoda said. "We have to introduce a Toyota brand to benefit a majority of consumers and it should be a model that can be beneficial for both Korean society and consumers."
Toyota Korea President Taizo Chigira said, "We suggested to headquarters the third-generation Prius as a major model for the Korean market, but no decision has been made yet."
The third-generation Prius comes with a bigger engine, up to 1.8 liters from the existing 1.5, and enhanced fuel efficiency of 40 km per liter. The first Prius debuted in 1997, and the current second-generation model was released in 2004.
Another Toyota source said, "We plan to price the new Prius much lower than the second-generation model to promote the advantages of the hybrid car in Korea. If the economical and eco-friendly Prius appeals to the Korean market, it will serve as a stimulation for Korean carmakers.”
Meanwhile, the Finance Ministry plans to provide subsidies or tax breaks for buyers of hybrid cars to promote the fuel efficient vehicles from 2009.
