Honda targets 400,000 hybrids in annual sales by 2012

Honda is hoping to reach an ambitious target of 400,000s hybrid in annual sales within the next five years. The Japanese automaker upcoming three hybrid models, including the next-generation Civic Hybrid, are expected to account for 10 percent of Honda’s total sales (compared to only 1.5 percent today).

Last year, Honda sold only 55,300 hybrids globally, and let’s not forget that the Civic Hybrid is currently the only hybrid car in Honda’s lineup. Toyota sold 429,000 units last year with its eight hybrid lineup.

Honda will introduce a hybrid-only model this September at the Paris Motor Show, which will go on sale in Europe early 2009 followed by the U.S. in 2010. Initial production of the small global hybrid model is estimated to be 200,000 units. More than 100,000 units will follow with the sporty CR-Z Concept based hybrid. The rest are expected from the next-generation Civic.

CEO Fukui says that the key will be making Honda’s hybrids more affordable to the average consumer. He did not offer any specifics but said that a hybrid’s sticker price should be offset by lower operating cost within two years.


Source: Automotive News (Subscription Required)

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