Toyota affords cheaper Prius if prospects take out software program updates

Toyota affords cheaper Prius if prospects take out software program updates

By Satoshi Sugiyama

TOKYO (Reuters) – Toyota Motor Corp’s leasing unit stated on Wednesday it can begin providing over-the-air security updates on the brand new Prius, betting it might probably use strategies pioneered by Tesla to decrease lease costs in Japan and protect used automobile values. .

Toyota’s leasing affiliate stated the lease program requires prospects to opt-in for service anticipated to cut back month-to-month lease funds by 10%.

The service will mark the primary time Toyota will characteristic its security options, together with collision avoidance programs, for on-road driving, stated Shinya Kotera, president of Japan’s Toyota Leisure unit KINTO.

Tesla has repeatedly used over-the-air software program updates to enhance the charging velocity of its electrical autos, unlock further battery vary, and handle safety points.

Kotera stated Toyota’s strategy will give attention to price for a newly launched model of the 25-year-old hybrid Prius that the Japanese automaker sees as a pillar of its technique at the same time as different main automakers flip to EVs.

“Tesla’s prospects are, merely put, high-income earners, and lots of of them are keen to pay for brand spanking new and higher issues so their merchandise are successful with that section of the market,” Kotera stated in an interview. Reuters on Friday.

“Toyota prospects aren’t like that. They are not somebody who’s going to pay further for a brand new know-how. They’re on the lookout for one thing good, dependable and low cost.”

Toyota unveiled the brand new Prius final month amid criticism from ESG buyers and environmental teams for its sluggish rollout of totally electrical automobiles.

The leasing unit needs to increase the service to different autos in a yr or two and is contemplating plans to make it a world providing, Kotera stated.

($1 = 136.8800 yen)

(Reporting by Satoshi Sugiyama; Modifying by Stephen Coates)

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