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Measuring 4.37 meters long, the five-door hatchback seats five and was on display at the Paris Motor Show. Its 1.3-liter engine delivers fuel economy similar to the 31km per liter of the Civic Hybrid.
The new Insight will be produced in Mie Prefecture at Honda's Suzuka factory. Honda hopes to sell 200,000 units a year.
"We want to set the price at around 2 million yen (US$19,030)," President Takeo Fukui said.
By making the Insight cost less than Toyota Motor Corp.'s (TSE:7203) highly popular Prius hybrid, Honda hopes to catch up with its rival in the field of green cars.
Honda also plans to launch two more hybrid vehicles, including one based on the Fit subcompact. It has set a goal of boosting annual hybrid sales to 500,000 units by the mid-2010s. Fukui also indicated that the company may manufacture the hybrid versions of the Civic and the Fit outside Japan as well.
(Nikkei)
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