Honda planning to test China market for hybrid Civic cars
SHANGHAI (XFN-ASIA) - Honda Motor Co is planning to test-market its hybrid-powered Civic economy car in China within three months, an official with a Honda joint venture was quoted as saying in the official Shanghai Daily.
The Dongfeng Honda (nyse: HMC - news - people ) Automobile official, who was not identified, said: 'It would be a trial operation to test the market response before localized production begins.'
'Our hybrid Civic will have a price advantage against Toyota (nyse: TM - news - people )'s Prius,' the official said, without providing details.
Toyota Motor Co became the first foreign car maker to produce hybrid autos in China with its Prius model in late 2005.
The Prius sells for 288,000-302,000 yuan and annual sales are expected to hit 3,000 this year.
The official added that the hybrid market will become more favorable if the government offers favorable tax policies to reduce driving costs for hybrid owners.
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The Dongfeng Honda (nyse: HMC - news - people ) Automobile official, who was not identified, said: 'It would be a trial operation to test the market response before localized production begins.'
'Our hybrid Civic will have a price advantage against Toyota (nyse: TM - news - people )'s Prius,' the official said, without providing details.
Toyota Motor Co became the first foreign car maker to produce hybrid autos in China with its Prius model in late 2005.
The Prius sells for 288,000-302,000 yuan and annual sales are expected to hit 3,000 this year.
The official added that the hybrid market will become more favorable if the government offers favorable tax policies to reduce driving costs for hybrid owners.
story continued
posted by anthony m, at Saturday, June 16, 2007
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