Honda Accord Hybrid Hits Showrooms December 2004

The hybrid version of Honda Motor Co.'s popular Accord sedan - the first mid-size gas-electric car available in the United States -- goes on sale today with a sticker price of $29,990.

With a price tag that is $3,000 more than a similarly-equipped gas version of the Accord, the hybrid Accord features a powertrain with a V-6 engine and an electric motor that consumes less fuel while delivering more horsepower and greater torque than the Accord V-6 sedan.

"The Accord hybrid requires no sacrifice in power, performance or comfort, and delivers on the expectations of the customer for advanced technology and improved fuel efficiency," said Dick Colliver, executive vice president of Torrance, Calif.-based American Honda Motor.

Gasoline-electric hybrid cars represent a tiny fraction of the U.S. auto market, but demand for the environmentally-friendly vehicles is growing sharply, in part because of high gas prices.

With the recent launch of Ford Motor Co.'s hybrid Escape sport utility vehicle, automakers are now offering hybrid versions of larger and more luxurious vehicles to appeal to a wider audience, and to recover technology development costs.

Toyota Motor Co.p., which is struggling to ramp up output of its hot-selling Prius hybrid compact sedan, will launch a premium hybrid SUV in April, the Lexus RX400h. It will follow up with a hybrid Toyota Highlander SUV later in the year.

Honda introduced the first hybrid into the U.S. market five years ago, when it rolled out the Insight compact, and it added a second hybrid to its lineup, a gas-electric Civic. Sales of its hybrid cars are up 13 percent this year, compared with a 0.7 percent rise in overall Honda sales.

With the hybrid Accord, Honda is targeting affluent, well-educated professionals with a household income exceeding $100,000 a year. The only option available is a navigation system that pushes the price up to $31,990.

Honda hopes to sell 20,000 hybrid Accords next year, nearly doubling its U.S. sales of hybrids to more than 45,000.

SOURCE: Auto Insider

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