Honda launches compact hybrid

Honda Motor Co. has launched a hybrid version of its popular Fit subcompact car in Japan, ahead of its debut in Europe next year, making it the first Japanese automaker to roll out a compact hybrid model. The Fit hybrid went on sale with a starting price of ¥1.59 million (US$19,401), cheaper than any other hybrid vehicle in Japan. Though there have been plans to market the vehicle in the U.S., final decisions are yet to be made. Honda is targeting monthly sales of 5,600 vehicles for the Fit hybrid. Orders for the hybrid totaled 10,000 units ahead of the launch, said Hiroshi Kobayashi, chief operating officer for domestic sales. (October 8, 2010)