(October 9, 2013) Toyota is reducing the price of its plug-in Prius models to try to boost sales and meet a California mandate as automakers find that cost is critical to U.S. consumers' willingness to buy rechargeable autos.

The world's largest seller of hybrid autos is trimming the base price of the 2014 Prius Plug-in to $29,990, a $2,010 reduction from the current car, while the top-end Advanced grade gets a 12 percent cut to $34,905, Toyota said in a statement.

Price reductions for the Japan-built plug-in, which goes 11 miles (18 kilometers) on battery power before operating like a standard Prius, is less painful for Toyota because of a 20 percent drop in the yen's value against the dollar in the past year.

The company said it sold 12,750 of the vehicles in the U.S. last year, missing an initial goal of 15,000. Deliveries through September total 7,974.

Toyota said production of the 2014 model year Prius Plug-in begins this month with pricing taking effect when these models arrive in showrooms in November.The Prius Plug-in qualifies for a Federal Tax Credit of up to $2,500 in addition to California’s Clean Vehicle Rebate Program (CVRP) which offers a $1,500 rebate.

Sources: Toyota, Bloomberg News