Honda Motor Company announced it will launch a new hybrid car low-cost market in Japan, North America and Europe at the beginning of 2009, aiming to overcome the Toyota race car production environment.
Despite the pressures exerted by high oil prices and worries related to climate change, environment-friendly hybrid cars occupy a small niche globally, in part because of high costs, both for consumers and for manufacturers.
Honda is the number two Japanese production of cars with low consumption, both gas and electricity, but Toyota has led the standings due to sales successful Prius model, available only in hybrid version.
SBInvestments analyst firm, Koichi Ogawa, said it’s hard to tell if Honda could threaten the position of Toyota.
“When you say hybrid, think the Prius,” said Ogawa. “Honda is very dependent on the U.S. market, which is reorienting to hybrid cars.”
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