Toyota Motor Sales USA will raise the price of the 2005 Prius petrol-electric hybrid by nearly 3%, although incentives will offset most of the additional cost, CBS Marketwatch reported.

The manufacturer’s suggested retail price for the Prius has been set at $US20,875, up $580 from a year ago, and the 2005 model goes on sale on September 14, the report said.

Toyota will continue a previously launched incentive programme to reimburse “most of the price increase” for qualified buyers, the company told CBS Marketwatch, which noted that Toyota recently announced that it would hike worldwide production of the hot-selling Prius by 50%, to 15,000 vehicles a month.

Toyota also announced price rises for some other models, the report added.

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