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Honda to start selling hybrid-electric sedan |
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| JAPAN: December 17, 2001 | ||
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TOKYO - Honda Motor Co Ltd said last week it would start selling its fuel-efficient Civic Hybrid sedan in Japan to compete with Toyota Motor Corp's Prius, the world's first hybrid-electric production car.
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The domestic price for the five-seater Hybrid would be 2.09 million yen ($16,590), Honda said. That is 500,000 yen more than a Civic sedan with a standard gasoline engine, but cheaper than the Prius, which is priced from 2.18 million yen. Demand for fuel-efficient vehicles has been rising worldwide due to tighter environmental rules. Toyota, Japan's top carmaker, launched the Prius in December 1997, with global sales totalling 76,703 vehicles as of October 2001. Third-ranked Honda said it aimed to sell 500 Hybrids a month in Japan, and planned to start selling the vehicle in the United States next spring. The carmaker is expected to sell about 30,000 Hybrids a year in the United States, where there is more demand for environmentally friendly vehicles, industry sources said. The Hybrid is powered by a 1.3-litre gasoline engine and an electric motor. It can run for 29.5 kilometres per litre compared with 29 km/l for the Prius, Honda said. Buyers of the Civic Hybrid would also receive tax incentives of up to 75,400 yen under the Japanese government's green car programme, it said. Honda launched its first hybrid-electric car, the two-seater Insight, in November 1999, with sales totalling 10,061 units as of November 2001. Shares in Honda slipped 3.67 percent to 4,730 yen by the close of trade, while the Nikkei average fell 3.41 percent.
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REUTERS NEWS SERVICE
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