Thursday, 5th February 2009
In Business In Japan,
Honda introduces 'cheapest' hybrid car
Japanese car manufacturer Honda has begun selling the cheapest hybrid vehicle on the market.
Known as the Insight, the gas-electric hybrid car has a starting price of 1.98 million yen and is currently only available in Japan and the US.
Takeo Fukui, Honda president, commented: "Pricing is key when we think about making the hybrid widespread.
"It has to be an appealing price. But it still must make sense for us as a business. It is a very ambitious goal."
The five-door hatchback vehicle has gone on sale at a difficult time for the motor trade around the world as demand plunges amid the global economic downturn.
In the US, new car sales plunged to a 26-year low in January.
Meanwhile, Suzuki has just reported a sharp fall in profits in the nine months leading up to December.
Operating profits at the company fell by 43 per cent as a result of the strong yen and falling demand.
Related news stories:
Honda hit by more China strikes (8th June 2010)
Honda Fit Hybrid goes on sale (12th October 2010)
Honda workers strike hits Japanese economy (4th June 2010)
Honda recalls more cars (18th March 2010)
Japanese carmakers UK's most reliable, survey finds (26th July 2012)