Honda to come out with a new low-cost hybrid car

Honda to come out with a new low-cost hybrid car

Japanese automaker Honda has said that they are working on a new low cost Hybrid car which would be launched next year in several markets including Japan, North America and Europe.

With this the company aims to take on Toyota which is the leading seller of hybrids in the world.

Hybrids continue to remain niche vehicles in the market as they are expensive compared to regular versions of the same model.

Toyota has been dominating the mass selling hybrid market with their Prius model.

Market analysts say that Honda has the capabilities to take on Toyota in this segment of the market.

Honda Chief Executive Takeo Fukui said in a statement: “It is important to move hybrid vehicles from the current image-oriented stage to the new stage toward full-scale penetration.”