Honda Motor Co it would sell the hybrid version of its popular Honda Fit (Jazz) subcompact for 1.59 million yen ($19,310) in Japan, making it the cheapest gasoline-electric car on the domestic market. The Honda expects to sell about 5,600 units a month. The struggle in the hybrid segment is set to heat up as industry leader Toyota Motor Corp works to expand its line-up to meet growing demand for fuel-efficient cars from drivers around the world.
Honda needs the Honda Fit hybrid to succeed after its last gas-electric model, the Insight, lost out to the third-generation Toyota Prius. After becoming the top-selling model in Japan in April last year, the Honda Insight has mostly fallen below 20th place in domestic car rankings, excluding 660cc microcars and despite generous tax breaks on hybrids.
