Thaindian News

By Gina Gomez
Oct 11, (THAINDIAN NEWS) Honda Motor has come up with hybrid Fit, which was launched in Japan on Friday. The car which is said to be the cheapest petro-electric car in the nation, is priced at $19,000 or 1.59 million yen. The new Fit is at least 300,000 Yen less expensive than Honda Insight hybrid car, which was launched in February, 2009. The five seater fit hybrid is capable of traveling upto 30 kilometers per liter. Hybrid Fit has been launched as a competitor to Toyota’s Prius, which is sells for a minimum of 2.05 million yen. Prius which has been regarded as the best selling vehicle since May, 2009 will be facing tough competition with hybrid fit being sold at a lower price.

However the sale of Prius has already registered a downtrend since the government ceased its subsidies for environment friendly vehicles. Sale of hybrid cars have been on a rise due to increasing oil prices and awareness about global warming. People are turning to environment friendly and resource saving measures in order to cope with global warming. Honda Motor’s hybrid Fit could not have entered the market at a better time. With no government subsidiaries to back them up, carmakers in the country are facing decreasing auto sales.

Moreover the price of their vehicle is much higher than hybrid fit. Fit was first launched in 2001 and became very popular with sales exceeding 1.5 million in Japan alone. The company has aims of selling 14,0000 vehicles per month, including gas-powered Fit cars. The company is all set to boost its car sales, especially with its introduction of reasonably priced hybrid cars.