Honda to launch low-cost hybrid only car in April 2009

Mumbai: Honda Motor plans to launch a compact hybrid-only car in April 2009 in North America. According to Honda, the five door, five passenger hatchback will compete  directly with the Toyota Prius at a lower price in the hybrid segment. The Japanese car maker is yet to decide a name for the hybrid.

Speaking at an industry forum in the US, Dick Colliver, executive vice president of American Honda Motor Co stated, the small hybrid is one of four new gas-electric models that Honda plans to introduce over the next four years, as part of a broad global strategy to boost hybrid sales to 500,000 units by 2012. Honda expects to build about 2 lakh hatchbacks globally, and is tragetting an annual sales of 100,000 in North America, Colliver said.

Colliver said the new hatchback will be lighter and cheaper than the Civic, currently Honda's only hybrid car. However, Colliver would not disclose the vehicle's exact price or fuel economy.

Currently Honda Civic is the third-best-selling car in the United States, behind the Toyota Camry and Honda Accord sedans.Colliver, a industry veteran noted that a hybrid-only model, instead of a hybrid of an existing model such as the Civic, will appeal to a broad segment of buyers.

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