Prius Rare Like Panda Prompts Toyota China Strategy Shift
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Toyota Motor Corp.’s Prius hybrid is the best-selling gasoline-electric vehicle in the world. In China, it’s about as rare as the endangered giant panda.
Almost a decade since Toyota began making the Prius in the country, the automaker has made little headway in persuading consumers in the world’s largest vehicle market to buy hybrids. The main reason is price: the Prius costs as much as an entry-level Audi because of taxes on imported components and the lack of government subsidies.