Honda Launches Compact Fit Hybrid, Takes On Toyota

October 11th, 2010 - 6:32 pm ICT by Pen Men At Work  

October 11, 2010 (Pen Men at Work): The Fit subcompact model from Honda saw a hybrid version being unveiled last Friday. This particular model is likely to become the most inexpensive car running on petrol-electric all throughout Japan. The compact model is being launched on its home turf for now but Honda has plans for venturing into the European market a year later.

The brand new model was available for 1.59 million yen which is about 19,000 dollars. Other Fit hybrid models are all pricier at 1.2 million yen. The Insight Hybrid from Honda is also priced slightly below the 2 million mark making it the second most inexpensive hybrid car in the nation.

The Fit is seen as a direct competitor to Toyota’s Prius which was currently the hottest selling car in Japan just a few months ago. It is priced at 2.05 million yen. The sales figures fell during September according to the reports of Automobile Dealers Association. The primary reason for this reduction in sales is the discontinuance of government subsidies for buying environmentally friendly vehicles.

The Fit Hybrid model can go on for 300 kilometers on a single liter of gasoline. The model has already proved to be a hit with the general public since its first launch in 2001. Statistics show that the cumulative sales for the vehicle have been more than 1.5 million in September, that too for Japan alone.

With the expiry of government subsidies the car makers of Japan are currently facing a slowdown in sales. Honda, however, is expecting to recover its lost market with the new Fit Hybrid as the general public becomes more and more aware of the perils of global warming. The escalating price of petrol is yet another incentive for the people to buy the new Fit hybrid model from the house of Honda.

Takanobu Ito, the president of Honda told the reporters that the Fit compact has not been launched to compete with Prius. It is of a different in both size and price range said Takanobu Ito.

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