News from the Land of the Rising Sun: The Mainichi Shimbun and Shimbun newspapers in Japan state that Honda Motor Co. gave their new hybrid car with low, low price tag of only ¥1.59 million (that’s roughly US$18,600), which makes it the cheapest hybrid vehicle in Japan. Soon, the new Honda Fit Hybrid might just be the most affordable gasoline-electric car in the United States and the world.
The US$18,600 price tag is still as staggering $3,500 lower when compared with the Honda Insight, the present cheapest hybrid in the market today. It is also $4,600 lower compared to the conventional gasoline-chugging Fit. While Japan’s market price does not always coincide with the US, Honda Fit Hybrid’s manufacturer’s suggested retail price might land somewhere around $17,000.
The Honda Fit Hybrid will carry an electric motor and a 1.3-liter engine. It is expected to achieve 70.6 mpg US, 3.3 L/100km with the fuel economy of 30 kilometers per liter. However, the Fit Hybrid’s title of being the cheapest hybrid vehicle is challenged by Toyota’s plan to debut its compact hybrid in 2011. Toyota’s hybrid will have the
price tag of around ¥1.5 million (that’s $17,554) and is expected to reach 40 kilometers per liter and 94 mpg US, 2.5 L/100km. According to analysts, the release of these two hybrid vehicles will improve the competition in the sales of eco-friendly vehicles between the two Japanese automobile giants.
Honda’s new Fit hybrid will make its debut in the Paris Auto Show this fall season and will be released sometime in 2011.