The gasoline electric cars of Honda were not able to compete with Toyota Motor Corp.’s Prius in sales, so it’s trying to come up with a sporty hybrid, aiming to carve out a niche in the U. S. markets.
Honda, which is the second-largest automaker of Japan, is aiming sales of just 15,000 units a year of the CR-Z, which is going to hit the showrooms in August, with an initial price of less than $20,000.
“Instead of targeting Prius’ volume or 50 miles-per-gallon rating for fuel economy, the two-seater is intended to be a fun hybrid”, said John Mendel, Honda’s U. S. Sales Chief. According to him, it has an ability to be a kind of halo vehicle not because of the volume it will do but due to the volume it doesn’t do.
The CR-Z unites Honda’s array as the Tokyo based Corporation and is looking forward to hasten growth in its principal market in the middle of a slow moving U. S. revival. Sales of Honda and Acura models increased 13% this year through May, sprawling an industry wide 17% profit and enhancements of 30% and 23% for challengers Nissan Motor Co. and Hyundai Motor Co., based in Asia.