Here is the price comparison for Gen 4 (2022) vs. Gen 5 (2023) Prius Prime trims: LE → SE: $29,865 → $33,445 (12.0% increase) XLE → XSE: $31,645 → $36,695 (16.0% increase) Limited → XSE Premium: $35,645 → $40,265 (13.0% increase) Limited → XSE Premium + solar-roof package w/digital rearview mirror option: $35,645 → $41,075 (15.2% increase) Limited → XSE Premium + advanced-technology package w/options: $35,645 → $41,900 (17.5% increase) All prices include $1,095 for delivery, processing, and handling No options unless otherwise stated included No special colors included My thoughts: Gen 5 Prius Prime is a very costly car, with very high profit margins for Toyota. Once the car market cools down and the gas prices come down, the depreciation will be huge. The most costly and worst trim to get in terms of depreciation is XSE. The trim with the best value and least depreciation is SE. The second-best trim in terms of value and depreciation is XSE Premium w/o expensive packages or options.
Overall I think gen 5 prime are worse choices than non-plug-in models. With no tax credit the prime is $5000 above an equivalent non-plug-in model. Even if it is driven on 100% electricity it will take an average driver many years to offset the higher MSRP. 40 miles a day won’t get you very far annually. And by doing so it is slower than a regular Prius. Engine oil still needs to be changed once a year without running the engine. Keeping the gas in the tank is probably not a good idea too. The prime is 200+ lbs heavier than a AWD non-plug-in. It is not really faster than the regular Prius according to some YouTubers. In the end I think it makes more sense for a Prime shopper to consider a regular Prius with AWD for efficient speed. Maybe a base Model 3 or the rumored small hatch if charging at home is one of the initiatives. Personally I won’t go for the prime until it is manufactured here to qualify for a tax credit.
Things are different in Canada. The Prime qualifies for $5k federal, and certain provincial rebates. The standard hybrid doesn't. Where the car is built doesn't enter into it. Canadian gas prices tend to be higher than those in the US due to taxes, so economically a plug in hybrid will save on energy costs, particularly if it's charged during off peak hours (when electrical demand is lower, so are prices, at least in the Toronto area). And in Ontario, you can use the commuter lanes solo with a plug-in hybrid. Not with a 'conventional' hybrid like the basic Prius, or the Corolla or Camry hybrid.
What about the dealership scalping; it’s pouring gas on the inflationary fire. Toyota’s doing a commendable job, if their intent is to kill the Prius line.
when the 2017 prime came out and they couldn't sell them, i thought people would take huge depreciation hits. but covid and geopolitics changed the landscape, and everything went upside down now we're at the opposite end of the spectrum. maybe.
Yeah and it’s obvious when USA expects 30% of sales to be the Prime but TCI expects 80% of Prius sales to be the Prime. Unless you want AWD (standard in Canada), the Prime is a much better deal.
The price gouging by Toyota on the Gen 5 Prius Prime is shameful. This car with its meek 39-mile BEV range will not sell at this price in a year or two from now when the supply-chain problems are eased and the economy normalizes. I have to trade in now because I have to benefit from the high used-car prices and low mileage of my car.
+1 The Hybrid premium problem existing on many models of regular hybrid that is also available on conventional ICE-only trims now applies to the Plug-in premium on the new PP. Without rebates and other incentives, there are no or very little financial incentives to buy a PP over a regular hybrid Prius. Yeah, until Toyota brings the manufacturing of their Plug-ins and new soon to arrive other EVs, the Toyota brand cars are off my shopping list.
If I find it available in stock at any local Chevy dealers, I may pull a trigger. Otherwise, I will just wait as long as I can. Posted via the PriusChat mobile app.
Not sure how GM ordering works, but I don't really need a car right now. So no rush for me. Certainly ordering one now is not going to be fulfilled before April 18th. If I wait long enough, then there may be other options than Bolt for a sub $20k BEV. Posted via the PriusChat mobile app.
+1 this. All Canadians are eligible for the $5k federal rebate, and price difference between the Prime and regular Prius is less than that, so it is a no-brainer. Even more so for the provinces which have provincial rebates. Also, electricity prices in Ontario are FAR lower than fuel cost. Based on current rates and fuel prices in my area, driving electric is about $0.015 per KM on electric (off-peak charging @ $0.074, and about 6.6KM/Kw based on my PiP’s 2.4Kw per charge), vs $0.075 per KM on gas ($1.50/L, using 5L/100km). That is up to an 80% (!) reduction in energy cost. So perhaps Toyota should just allocate all the Primes production to Canada until they start building them stateside and make them eligible for incentives again…?
In my area, gas price hair over $4/ gal, 40 miles range means less than a gallon of gas. A lot of people will take forever to recover the price difference. By that time, people may purchase another car already.
I’m in NorCal and regular at Costco is at an inflated rate around $4.6 today. $5000 still means over 60K of miles in an LE. I do have some free electricity in summer from solar panels but still can’t talk myself into spending more for potentially saving a little in the far future. What bugs me the most is the fact that an SE is over 360 lbs heavier than an LE. That’s like having 2 grown men in the backseats. Really don’t like that idea.
