Toyota announced manufacturer’s suggested retail price (MSRP) today for the 2010 high mileage Corolla compact sedan and Matrix crossover utility vehicle, which now include Vehicle Stability Control (VSC) and Traction Control (TRAC) as standard equipment.

There is no price increase for the 2010 Corolla. Corolla’s base MSRP will range from $15,350 for the standard sedan with a five-speed transmission to $20,050 for the sporty XRS with a five-speed automatic transmission.

Matrix carries a base MSRP that will range from $16,550 for the standard sedan with a five-speed transmission to $21,960 for the sporty XRS with a five-speed automatic transmission. The new Matrix MSRP represents an overall increase of $201 or 1.1 percent.

The new prices will take effect when the 2010 Corolla and Matrix arrive in dealer showrooms beginning in late February. MSRPs do not include a delivery, processing, and handling (DPH) fee of $720. DPH fee for vehicles distributed by Southeast Toyota (SET) and Gulf States Toyota (GST) may vary.

The Corolla’s 1.8-liter DOHC four-cylinder engine with dual variable valve timing with intelligence (VVT-i), featured on Standard, LE and XLE models, has estimated EPA fuel economy ratings of 26 mpg city/34 mpg highway. The Corolla XRS’ 2.4-liter DOHC engine with VVT-i has estimated EPA ratings of 22/30.

The Matrix Standard is also powered by the 1.8-liter DOHC four-cylinder engine with dual VVT-i and has EPA mpg estimates of 26/32 for the manual transmission, while the four-speed automatic has ratings of 25/31. The 2.4-liter engine, also shared with the Matrix S and XRS, has EPA mpg estimates of 21/28 for manual, 21/29 for the five-speed automatic and 20/26 for the AWD.

According to the Detroit News, Toyota’s incoming President Akio Toyoda intends to replace most of the company’s top management in an attempt to return the company to profit. As a result of the economic downturn and lagging auto sales, Toyota is reporting its first operating loss in over 70 years.

Toyoda, the 52-year-old grandson of founder Kiichiro Toyoda, will succeed Katsuaki Watanabe in June. Watanabe will become vice chairman.

Toyoda will be replacing the company’s other four executive vice presidents and many of the 19 senior managing directors, according to unnamed sources. He will also curtail Toyota’s expansion strategy, which had allowed the company to top GM in worldwide sales last year.

Chairman Fujio Cho has stated that Honorary Chairman Shoichiro Toyoda, Akio’s 83-year-old father, and Adviser Hiroshi Okuda, 76, may step down from Toyota’s board; Toyota spokesman Paul Nolasco declined to comment.

Toyoda must try to reverse the 15% sales drop in the US while finding ways to utilize Toyota’s excess production capacity in the meantime. Sales this year may reach their lowest levels in nearly thirty years after dropping last year for the first time in a decade.

With the retirement of Vice Chairman Katsuhiro Nakagawa, Toyota has announced two promotions to fill the vacancy. The changes are intended to be officially finalized at a board of directors meeting following this year’s annual general shareholders meeting in June.

Filling the vacated position of Vice Chairman is current President Katsuaki Watanabe. He will be replaced by current Executive Vice President Akio Toyoda.

In an effort to attract new buyers to the hybrid market, Toyota today launched the Toyota Certified Used Hybrid (TCUH) program, an extension of the Toyota Certified Used Vehicles (TCUV) brand which provides added inspection and warranty coverage on certified used Toyota hybrids.

“The program is a great way to increase awareness of certified used hybrid vehicles,” said TCUV Marketing Manager, Steve Gallagher. “As more hybrids enter the used vehicle marketplace, Toyota Certified Hybrids offer high-quality options to customers interested in purchasing these fuel-efficient vehicles.”

As the industry’s first dedicated certified pre-owned program for hybrid vehicles, TCUH was designed to drive sales of certified used hybrids while expanding Toyota’s customer base for these types of vehicles.

Customers benefit from additional inspection and warranty coverage on Toyota hybrids within the program. Each vehicle comes with the three-month/3,000-mile comprehensive warranty, seven-year/100,000-mile limited powertrain warranty and roadside assistance plan offered on traditional TCUV models. The program also brings added awareness to a pre-existing eight-year/100,000-mile factory hybrid battery warranty. The TCUH quality insurance inspection also includes 14 additional inspection points beyond the current TCUV 160-point quality assurance inspection. This expanded 174-point Toyota Certified Hybrid inspection includes examination of key hybrid components, such as the hybrid transaxle, control modules and battery.

The Toyota Certified program combines the confidence of purchasing a new vehicle with the value of a used vehicle to provide a “like new” ownership experience. Toyota certified used vehicles offer consumers an alternative to traditional used car options.

Toyota and Dentsu America have launched a microsite at www.toyota.com/whynot to support Toyota’s “Why Not?” corporate advertising campaign. The site will engage users by allowing them to submit their own innovations in six areas – safety, water, land, air, community, and energy – while learning about Toyota’s efforts in these same areas.

One person’s idea will be chosen as the winner in the “Why Not? Innovation Experience” and receive a week-long trip for a VIP tour of Toyota’s plant in Kentucky and the opportunity to meet with top innovators in New York City. Users have until March 31, 2009 to submit their innovative ideas.

“The goal in creating this ‘virtual world’ was to open a dialogue between Toyota and people across the country – while making it fun to use at the same time,” said Mike Wilson, chief creative officer, Dentsu America. “Over time, the suggestions of users will ‘grow’ the landscape of the site.”

“The response from people to the first year of the ‘Why Not?’ campaign has been very positive and highlighted the fact that Toyota shares many of the same core values as our audience,” added Steve Sturm, group vice president of Toyota Motor North America. “This site gives us an opportunity to keep visitors informed about our progress in key areas while connecting the ideas of like-minded individuals. Some visitors will submit an idea, and others will incorporate a few tips into their own lives, but all will leave the site inspired.”

The media plan developed by Dentsu America for the “Why Not?” microsite will include digital ad banners on outlets including The New York Times, The Wall Street Journal, NPR, and Wired.

The midsize third-generation 2010 Prius will offer improved mileage ratings, enhanced performance, and new design features. It will be quieter, roomier, and equipped with advanced standard and available features such as a moonroof with solar panels, four driving modes, Intelligent Parking Assist (IPA) and steering wheel touch controls that display on the instrument panel.

The patented Hybrid Synergy Drive system in the 2010 Prius is 90 percent newly-developed with improvements over previous models. The transaxle is lighter in weight and reduces torque losses by as much as 20 percent compared to the previous model. The inverter, which converts direct current to alternating current, has a new direct cooling system to reduce size and weight. Taken together, the inverter, motor and transaxle are smaller and 20 percent lighter.

A newly developed electronically controlled regenerative braking system has been adopted, with control logic optimized to enhance regeneration.

The new Prius will offer three alternative driving modes. EV-Drive Mode allows driving on battery power alone at low speeds for about a mile, if conditions permit. There is also a Power Mode, which increases sensitivity to throttle input for a sportier feel, and an Eco Mode, which helps the driver achieve optimal mileage.

The new Prius received more wind tunnel hours of testing than any other Toyota in history, resulting in the cleanest aerodynamic profile of any mass-produced vehicle in the world. By focusing on the shape of the body, underfloor, wheelhouse liner and shape of the wheels, the designers of the new Prius were able to reduce the coefficient of drag (Cd) value to 0.25, compared to 0.26 for the previous model. The airflow under the car was studied extensively. Engineers made changes to the shape of the fender liner, front surface of the underfloor, and added a fin at the rear floor cover to increase linear stability.

An available sliding glass moonroof is packaged with solar panels, located over the rear seating area, that power a new ventilation system. This solar powered ventilation system uses an electrically powered air circulation fan that does not require engine assist. The system prevents the interior air temperature from rising while the vehicle is parked, making the cool-down time shorter when the driver returns to the vehicle, thus reducing the use of air conditioning.

The remote air-conditioning system is the first system in the world to function on battery-power alone and that can be remotely operated, so the driver can adjust the interior temperature for comfort before getting in the car.

Reducing the vehicle’s power consumption, available LED (light emitting diode) lamps are used for low beams and also in the tail and stop lamps. Air conditioning, a major energy drain, has been re-engineered to increase efficiency and cool-down performance. In addition, an exhaust heat recirculation system reduces heat waste by warming engine coolant during cold startup, for improved performance. It also heats up the passenger cabin more efficiently.

The next-generation Prius is built on a new platform, which enables improved handling stability, quieter operation, and collision safety. The suspension consists of front struts and a rear intermediate beam design, as before, but handling stability is advanced by improving the stabilizer layout, higher caster angle and tuning the bushing characteristics. Disc brakes are now used on all four corners, replacing the front disc/rear drum brakes in the current model.

Weight was saved through use of aluminum in the hood, rear hatch, front suspension axle and brake caliper and super high-tensile steel in the rocker inner, center pillar, and roof reinforcement. To meet customer expectations for everyday performance, zero-to-60 acceleration has been improved to 9.8 seconds, more than a second faster, in internal testing.

Better-performing sound insulation, working with improved vibration damping, has been installed in various locations to reduce road noise.

The cargo area of the new Prius was expanded 0.4 inches in length and 2.2 inches in width by using a new and an improved layout of the battery cooling unit. Rear seat legroom is enhanced by a new space-saving front-seat design. Storage space has been added under the shift lever by taking advantage of the shift-by-wire system.

Touch sensors on the steering wheel switches are designed to reduce driver eye movement for better concentration on the road. When the driver touches the audio or info switch located on the steering wheel, a duplicate image is displayed on the instrument panel, directly in front of the driver. This system, called Touch Tracer, is the first system in the world to allow steering wheel controls to read out on the instrument panel.

The ECO indicator on the Multi-Informational Display (MID) provides driver feedback for lower fuel consumption.

Toyota will use plant-derived, carbon-neutral plastics in the 2010 Prius. The newly-developed plastics, known as “ecological plastic,” will be used in the seat cushion foam, cowl side trim, inner and outer scuff plates, and deck trim cover. Ecological plastic emits less CO2 during a product lifecycle (from manufacturing to disposal) than plastic made solely from petroleum; it also helps reduce petroleum use.

The new Prius was designed to comply with class-top level collision safety performance in each global region of sale, and to accommodate increasingly strict safety requirements in the future.

In addition to advanced driver and front passenger Supplemental Restraint System (SRS) airbags front and rear side curtain airbags, driver and passenger seat-mounted side airbags and driver’s knee airbag are standard equipment.

Active headrests are used in both front seats to reduce the possibility of whiplash in a collision. Anti-lock Brake System (ABS), Electronic Brake Distribution (EBD), Brake Assist (BA), electronic traction control (TRAC) and Vehicle Stability Control (VSC) are included with Toyota’s standard Star Safety System.

Dynamic Radar Cruise Control system, using advanced millimeter wave radar, is an available option. The system also enables Lane Keep Assist, which helps the driver stay safely within the lane, and the Pre-Collision System, which retracts seatbelts and applies the brakes in certain conditions when a crash is unavoidable.

Next-generation Intelligent Parking Assist features simplified settings to help guide the car into parking spaces.

A backup monitor, which provides a view of rear obstacles when reverse is engaged, is available with an optional voice-activated navigation system.

Safety Connect, Toyota’s first safety and security service, includes automatic collision notification, stolen vehicle locator and an SOS call button. Safety Connect will be available a few months after launch.

The development of the Prius has required applications for over 1,000 patents filed across the world, of which 292 are U.S. applications.

Pricing for the 2010 Prius will be announced shortly before it goes on sale late spring.

2010 PRIUS PRELIMINARY SPECIFICATIONS

POWERTRAIN

1.8-liter four-cylinder engine with VVT-i
Engine horsepower: 98 hp @ 5,200 rpm
Engine torque: 105 lb-ft @ 4,000 rpm
Electric motor: Permanent magnet synchronous motor
Electric motor power output: 80 hp/153 lb-ft torque
Hybrid system net horsepower: 134 hp
Emission rating: SULEV (with AT-PZEV)
Electronically controlled continuously variable transmission
Drive System: Front-wheel-drive
Hybrid battery pack: Nickel-metal hydride
Estimated fuel economy: 50 mpg (combined)*

DIMENSIONS (inches)

Overall Length: 175.6
Overall Width: 68.7
Overall Height: 58.7
Wheelbase: 106.3
Ground clearance: 5.5
Coefficient of Drag: 0.25
Wheels: 15-inch alloy wheels
17-inch alloy wheels (optional)
Tire Size: 15-inch: 195/65R15
17-inch: 215/45R17 (optional)
Seating Capacity: 5

EPA class rating: Midsize

* Preliminary figure based on Toyota’s internal testing. Actual mileage will vary.