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 to 1.5 million yen, which is about $16,570, as reported by Japan’s Nikkei newspaper.
The Honda Fit Hybrid will debut this fall in Japan, and it will be the cheapest hybrid car available for the masses in Japan. In comparison 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 manufacturers are focusing to slash prices of their hybrid lines as well. Current prices of hybrid cars are way too high to be affordable for everyday commuting, and competitions are always good, which means that this price war will be beneficial for consumers.