Price reductions on 11 Toyota and Lexus models were announced last week with price adjustments ranging from $1,250 to $7,900 are now available on selected models, regardless of whether shoppers plan to lease, finance or purchase them.

The atmospherically-friendly Toyota Prius, for instance, has just had its price dropped nearly $2,000 down to $27,600.

Toyota Canada’s Managing Director Stephen Beatty, comments "Toyota and Lexus are pleased to offer the country’s largest selection of vehicles driven by powerful, clean and efficient hybrid technology. Today we are reducing the MSRP on the Toyota Prius, all Lexus hybrid models, and many other models that earn high marks for fuel efficiency and emissions performance, making it easier for Canadians to meet their transportation needs in a fuel-friendly, environmentally sensitive vehicle."

Shoppers after a larger, family-friendly vehicle will be happy to learn that the Toyota Highlander and Rav4 have also had their prices cut by $1,350 and $2,000, respectively. Lexus, Toyota’s luxury division, is offering rebates of up to $7,900 on its products; including a cut of $1,900 on the GS450h hybrid sedan and $1,400 on the RX400h hybrid SUV.

These price reductions come in line with the start of the busy summer travel season, which experts predict will see drivers faced with record-setting gas prices.

Other manufacturers are dropping prices on their newest vehicles.

Nissan Canada has announced reduced pricing on the 2009 Nissan Titan pickup truck and 2009 Nissan Armada full-size SUV.

Infiniti Canada announced it has reduced pricing on the 2009 FX and 2009 QX56, while Volvo Cars of Canada Corp. announced price reductions on some models.