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 |  Apr 21 2009, 10:03 AM

09 10 Prius.jpg

Toyota is expected to release pricing for the new 2010 Prius tomorrow and the cost of ownership will be 21,000. This is $1,000 less than the current model.

Bloomberg is reporting the drop and citing an unnamed source.

This news comes several weeks after Japan’s Nikkei newspaper reported Toyota made a similar move in it’s home market of Japan. At that point, doing just the basic Yen to dollar comparison showed a Prius priced at $20,750 – so the $21,000 price expected to be released tomorrow isn’t far off.

The cost is still above the Insight, which starts at just $19,800, but the Prius does offer superior fuel-economy with 51/48 mpg (city/highway) compared to the Insight at 40/43 mpg. The Prius is also roomier as it is technically classified as a mid-sized vehicle as compared to the Insight, which is a compact.

[Source: Bloomberg]