Competition in the subcompact hybrid car market is getting fierce. Honda plans to root out the competition by lowering the price of its Fit Hybrid base model at 1.5 million yen, that is about $16,570, as reported by Japan’s Nikkei newspaper.
The Honda Fit Hybrid will debut in this fall in Japan, and it will be the cheapest hybrid car available for the masses in Japan. In comparsion with other hybrid cars in Japan, the Honda Fit Hybrid is about $4,500 cheaper than the Honda Insight and about $8,000 cheaper than the Toyota Prius.
In response to the lowering price of the Honda Fit, many auto manufacturing are forced to slash prices of their hybrid lines. Current prices of hybrid cars are way to high to be affordable for everyday commuting, competition is always good, this means that this price war will be beneficial to buyers.
Source Reuter
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