High Prices Slow Honda's Hybrid Sales

Honda Motor Co. President Takeo Fukui said it will likely take time for his company to significantly increase sales of gasoline-electric hybrid powered vehicles.

Published: 22-Sep-2005

The relatively high cost to install the technically advanced system in vehicles remains a disincentive, preventing many consumers from purchasing such environmentally friendly vehicles, he said at a press conference to introduce Honda's new Civic sedan and its hybrid version.

The newly launched hybrid version of the Civic is about Y280,000 more expensive than the gasoline-engine powered new Civic model. The price difference, however, between hybrid and gasoline-engine Civics has narrowed somewhat compared to previous models.

"Unless (the gap) narrows to about Y200,000, it will be difficult to have full-fledged growth," Fukui said.

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