Honda's Newest Hybrid The Fit

Honda Motor Company is going to be selling their new hybrid car for approximately $18,600.00 this will be the lowest vehicle price ever to date for gasoline electric vehicles that are sold in Japan.

Honda’s new Fit Compact car which is to be released in October will be $3,492.00 lower then the price tag for the least expensive model Insight hybrid which was put on the market in February of last year.

The New Fit will feature a 1.3 liter engine and electric motor has the fuel economy of 70.6 miles per gallon.

This news will drive the competition in their development and sale of environmentally friendly cars, especially between Honda and Toyota Motor Corporation who will be releasing their new hybrid next year which is expected to achieve 94 miles per gallon and have a list price tag of approximately $17,460.00.

Honda also is planning its fourth hybrid vehicle in the Japanese market after its Civic, Insight and CR-Z models. The Fit hybrid will be $3,492.00 dollars lower in list price then the top selling Toyota Prius hybrid. However, reports from Honda state that this model will be $4,657.00 dollars more then the existing Fit sub compact.

Honda’s intention is to increase the sales of their hybrid Fit vehicle in Japan after they received an uninspiring demand for their Insight hybrid over the past several months. Honda to date has only sold approximately, 26,000 of their Insight hybrid in Japan in the first six months which is about one tenth of the 204,882 Prius hybrids sold in the very same period.

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Toyota’s Tries to Move Quickly

Toyota is moving quickly to cut their production costs for their Yaris and Corolla vehicles as the Japanese Yen reaches nearly a 15 high rate against the U.S. dollar. This rise in the yen could lead to a big lost in building their economy cars for shipments overseas.

Per Toyota’s Atsushi Niimi Toyotas executive vice president for their global manufacturing they are working extremely hard and as quickly as possible to keep up the appeal for their vehicles, however, given the current exchange rate it would not be possible for Toyota to export their Corolla’s or Yaris models.

Japanese car makers are struggling with this situation and are currently searching for ideas to bring their production shifts out of Japan especially with their small compact cars because those are the vehicles that are the most vulnerable amidst economic crises.  

Right now, Honda Motor Company is the highest seller for their North American built automobiles amongst all of the Asian automakers. Nissan Motor Company’s import sales have grown 19 percent since July which is now the second highest in volume.

So, for the moment Toyota will continue to focus on their productivity improvements as their Japanese plants try to compensate the exchange rate issues.

Currently, Toyota is producing their Corollas out of Canada and they export more of their compact cars to the United States from that location. Toyota recently closed their California join venture plant in April of this year. However, the Blue Springs, Mississippi plant that has been planned to open in September of 2011 will continue assembling the Corolla Model.

Toyota plans to start producing their Prius hybrid model in Thailand but at this time that strategy is still in the works per a Tokyo spokes person for Toyota.

Right now where the exchange rate stands the Japanese economy overall is having to come up with a production structure which supports 85 yen to the U.S. dollar and that is a sure sign for disaster.

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Cash for Clunkers

Cash for Clunkers which been around for about a year now is a program that helps to jump start car sales during the current recession. Automakers are facing some pretty tough challenges during these economic times; however some companies have been able to increase their sales compared to the sales flow from last year.


All Honda sales were down over 5 percent, but currently sales tallies have increased well over 9 percent versus sales totals from last year. The strongest sellers seem to be Honda’s Odyssey, Honda Pilot and the Acura MDX.


As for Hyundai they continue their sales have increased 19 percent over last year and year to day they are up 24 percent which is a record for the company. Having redesigned their models which are now fueling the move forward the leaders for Honda seem to be the Sonata and Tucson. The Elantra is also selling strong with a 34 percent increase over last year and all this after last years redesign offing.


Nissan as well has posted a 12 percent increase over last year and has gained strong sales with their Rogue and Murano SUV’s. The new QC56 and Infiniti G Sedan has also had a sales increase compared to last year’s figures.


Subaru marked its highest ever sales increase which is up 10 percent even though they have experienced these sales increases during last years Clunker program. Overall their sales are up 30 percent over last years sales. Their recently redesigned Legacy and Outback are still drawing in customers.


Toyota sales overall are down 6 percent but over all the year to date figures show them up over 7 percent from last year. Their Camry is continuing to sell very well which is their second highest selling vehicle.
All continue to be hoping to see these numbers continue to increase as the year progresses quickly to an end. For the moment however they are enjoying record breaking numbers from last year’s full month of Cash for Clunkers sales.


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