Honda said its new Insight hybrid will be priced under $20,000 when it goes on sale in the U.S. later this month, as the No. 2 Japanese automaker takes aim at eco-friendly bargain shoppers.
American Honda Motor Co. said the 2010 Insight will arrive at U.S. showrooms starting March 24 with a manufacturer’s suggested retail price of $19,800 for the base LX model. The Hybrid EX, which will include some premium features, will have a base price of $21,300, Honda said.
Honda has said it planned to make the Insight an economical hybrid. The car is expected to compete head-on for hybrid shoppers with Toyota’s Prius, which has long been the best-selling hybrid in the U.S.
Toyota has not yet announced pricing for its much-touted 2010 Prius, but the 2009 Prius starts at $22,000, according to Toyota’s Web site.
Honda said it has already received 18,000 orders for the Insight, outpacing the automaker’s own target.
