Toyota's First Prius Branded Hybrid Wagon

Three models will be offered. Besides the base V Two model at the $26,400 price, there will be the midlevelV Three ($27,165) and the V Five ($29,990).

This is the first of a variety of new models that will carry the Prius name as Toyota expands a brand that has become synonymous with "hybrid" since it was introduced in the U.S. market in mid-2000.

Toyota says the Prius V is designed for "young, active families." The "V" stands for "versatility." It's essentially a crossover version of the third-generation midsize Prius hatchback that arrived for 2010. It is intended for people who like the idea of the gas-sipping hybrid, but need a bigger, roomier vehicle.

The Prius V seats five, just as its hatchback sibling, but has 58 percent more cargo space — 34.3 cubic feet — which Toyota says is more than that of "80 percent of the small SUVs on the road today."

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