The new 2010 Toyota Prius isn’t about to let the Honda Insight take over in the hybrid segment and strong initial sales show the Toyota model will be another big success for Japan’s largest automaker. Japanese business magazine Nikkei is reporting that Toyota has already accepted 75,000 orders for the new Prius. This news comes just a few months after Honda announced demand for it’s Insight hybrid in Japan was triple what was expected.
Toyota recently responded to Honda’s challenge in the hybrid marketplace by slashing the MSRP of the new Prius significantly.
Toyota has high hopes for the new Prius as the company recently posted a $6.9 billion loss for its fourth quarter and said it expects an annual loss of $8.6 billion.
A recently management shakeup is also part of the plan with the founder’s grandson (Akio Toyoda) taking the top position, 40 percent of managers being replaced last month and former executive Yoshimi Inaba returning to the company to lead U.S. operations.