Honda Pledges to Reduce Hybrid Cost Differential By One-Third
Honda Motor Co., the world's second- largest maker of gas-electric cars, said it will cut the excess cost of so-called hybrid system on the Civic by a third within 5 years, as it phases out the gasoline-powered version in some markets including Japan.
The additional cost of using a hybrid system to run Honda's Civic compact car will fall by a third to 200,000 yen ($1,702) each, as development costs are halved, President Takeo Fukui said today. The Civic Hybrid, with a four-month waiting list in Japan, is priced at between 2.2 million and 2.4 million yen.
Honda is relying on hybrid versions of the Civic and Accord, its two best-selling models, to compete with Toyota Motor Corp.'s Prius as record gasoline prices spur demand for vehicles that burn less fuel. Tokyo-based Honda may put diesel engines in light trucks in North America, where it sells about 49 percent of its vehicles, Fukui said.
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