Honda Aims at Toyota’s Hybrid Empire
The Toyota (NYSE:TM) name is, in many instances, synonymous with hybrids, and rightly so, as the company has established itself as a worldwide leader in the segment of part electric, part gasoline vehicles. From its best selling Prius line to the Highlander SUV (not to mention the various forms hybrid cars under its Lexus brand), Toyota has had the hybrid market locked down.
However, Toyota’s dominance is becoming increasingly difficult to maintain, as companies like Ford (NYSE:F) have launched several lines of hybrid-powered vehicles in response to capitalize on the more fuel-efficient market that has seen tremendous growth over the last few years. Ford has initiated a broadside attack with vehicles spanning from the practical C-Max wagon/crossover, to the midsize Fusion sedan, But Honda (NYSE:HMC), though, is aiming directly for the heart of Toyota’s hybrid empire, the ambiguous Prius line — specifically, the Prius C.
Honda’s new Fit Hybrid model, a redesigned edition of the popular hatchback that shares a powertrain with the Insight (which is more comparable to the Prius liftback), is meant to go toe-to-toe with the Prius C, a smaller, hatchback version of the full-size model.