New Honda Hybrid Priced Lower Than Toyota Prius

By dancurranjr On August 13th, 2008

A top Honda Motor Co. executive said today that the company’s new gas-electric hybrid will be priced lower than the Toyota Prius, its prime competitor.

The new five-door car will be available with only a hybrid powertrain. It will be smaller than Honda’s Civic and also will be priced less than a hybrid gas-electric version of the Civic, said Richard Colliver, executive vice president of American Honda Motor Co.

Speaking to reporters at an industry seminar in Traverse City, Colliver said the new hybrid would be launched in April.

“We’re targeting sales of 100,000 units of this new vehicle in North America,” he said in a speech at the Center for Automotive Research Management Briefing Seminars.

The Civic hybrid starts at $22,600, while the Prius has a base price of $21,500.

Colliver said Honda wanted to make the hybrid affordable to a new generation of buyers, but that it is not specifically trying to match Prius sales. Toyota sold more than 181,000 Priuses last year, and so far this year it has sold more than 106,000.

Honda has not released fuel economy figures for its new hybrid. The Prius gets an estimated 45 miles per gallon on the highway and 48 in the city.

Honda, which already has the most fuel-efficient lineup in the United States, announced in May that it would sell the new hybrid-only Prius competitor in the United States, Japan and Europe starting in early 2009. It also announced it would build a new hybrid version of its Fit subcompact, but hasn’t said if it will be sold in North America.

Source: Post Gazette

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