Toyota prices the 2012 Scion iQ, starting at $15,995

Today is the official media launch of the upcoming 2012 Scion iQ and with it has come the starting price of this new subcompact Toyota model – starting at $15,995 for US buyers.

When the 2012 Scion iQ hits US showrooms, it will carry a base price of $15,995 – coming fairly well equipped with only a few options. Buyers can expect Pandora radio integration and for those who opt for the higher end models, navigation will be included as well. Like all Scion models, we can expect that the iQ will come with a similar accessory catalog with items like body kits and wheels on the outside along with performance mods such as lowering springs and cold air intakes.

The Scion iQ was set to hit US shores earlier than now expected but a variety of problems, including the Japanese earthquake and ensuing tsunami have pushed the US launch back to the fall of 2011. The 2012 Scion iQ will be launched in four stages, with the West Coast getting the tiny Toyota first in October, followed by the southern US in January and the East Coast and American Midwest will come sometime after that.

Even though a price of $15,995 makes the Scion iQ among the cheapest cars in the US market, that cost puts it above other subcompacts like the Fiat 500 which starts at just $15,500. While both cars are tiny relative to the average American model, the Fiat 500 offers far more versatility and interior space than the iQ – along with offering an interior layout geared more towards those who want more than just a cheap car, with leather appointments scattered throughout an Italian-designed interior that looks more like a luxury car than a low-buck subcompact. The main advantage that the Scion iQ could have over the competition is fuel economy numbers but we won’t be getting those official EPA numbers until we get closed to the production launch of the models later this year.

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Company CEO teases new 2012 Toyota Camry