On Monday, Toyota Motor Corp - the world's biggest car maker volume-wise, and the foremost hybrid maker - launched its newly-designed flagship hybrid Prius in Japan. Having lowered the new Prius' price-range to Y2.05 million to Y3.27 million, as against the earlier cost between Y2.33 million and Y3.35 million, Toyota has already received over 80,000 pre-sale orders for the new car!

Toyota is offering these lower prices with the expectation of picking up on demand from consumers searching reasonably priced, fuel-efficient cars. In fact, the new hybrid will be sold in conjunction with the company's entry-level grade of the second-generation Prius, which costs Y1.89 million and competes with Honda Motor Co's new Insight hybrid.

The car, going on sale Monday onwards, follows the February-launched Insight - the first hybrid to top Japan's monthly auto sales, not including mini-cars. Ever since the Prius marked its entry in car-market in 1997, over million Prius cars have been sold the world over.

Unveiling the new, third-generation Prius model, Toyota's Executive VP Akio Toyoda said that the company is looking at monthly sales of 10,000 units of the newly-launched model in Japan.

With Toyota's second straight loss on the cards, the company is banking on Japan and other countries, which offer drivers subsidies or tax breaks on fuel-efficient vehicles, for boosting its hybrid sales!