The auto-maker will be launching its latest version of Prius at the New York Auto Show in the coming week.
Toyota Motors Corporation has caused excitement as it announced on Tuesday that its ‘next mechanical marvel’ will hit the stage at the New York Auto Show 2016 which is only a week away. At the annual auto show, the auto-maker will be showcasing its latest Toyota Prius. The auto event is scheduled to begin on March 23, 2016.
On Tuesday, the automobile giant unveiled a teaser image of the vehicle with a black back view of the automobile with red LED taillights. The details of the vehicle will be announced at the event, however at this point we know that the new Prius will be distinctive from its previous plug-in hybrid variants. The styling of the Japanese auto-maker is supposed to differ from the previously introduced hybrids, according to Toyota.
In a press release the Japanese automobile manufacturer stated that the city that never sleeps is about to get a wake-up call now. Presently, Toyota’s spokesperson declined to give any additional information regarding the car.
Early this year, the auto-maker launched its fourth generation hybrid Prius; many analysts are expecting that this latest plug-in auto could just be a version of the same generation hybrid car. However, as per a leaked spy shot of the vehicle by Automotive News suggests that even though in its nature the car will be the same but with a different style.
The initially version of the plug-in vehicle was released back in 2012; it was launched as a plug-in electric vehicle (PHEV) which was sold for four year. During those four years, the company sold 42,293 units of the auto in the United States. However due to the increased competition from other electric plug-in hybrids from Ford Motors and Chevrolet Volt, the sales of the vehicle were comparatively lower than its other counter versions.
Another reason for the low sales was also because of the car’s electric drive range as the initial Prius could only run about 11 miles on electric drive, according to Green Car Reports. If the latest version of Prius managed to exceed this, it might have a competitive advantage in the industry. As per a publication, the latest vehicle is likely to run as much as 30 miles on electric drive.
The concept of electric cars emerged when the largest European seller, Volkswagen AG was caught up in a diesel emission scandal; it has installed illicit software by the name of ‘Defeat Device’ due to which the affected cars were producing 40 times more nitrogen oxide pollutants. Due to this reason, at the Geneva Auto Show, many companies showed their interest in developing electric cars. This auto show was held at a few weeks ago and since then the leading auto-makers have diverted their focus on EV.
Mainly because of the auto electrification trend, it is quite possible that Toyota will launch its electric hybrid car or even a pure electric plug-in vehicle for the masses. Toyota stock is up by 0.20% trading at $107.43. The stock of the automobile has dropped by as much as 12.78% and has managed to underperform the S&P 500 Index.
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