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Hybrid car entrants from Hyundai Motor Company and Japan's Honda and Toyota will lock horns in the W20-million price range segment (US$1=W1,040) in next year's second half.
Honda Korea said Sunday it will release its New Insight hybrid at a similar cost to its Civic 1.8 (W25.9 million) in the latter half of next year. The estimated price is comparable to Hyundai's Avante LPG Hybrid, which will premiere in Korea in July of next year. Toyota's hybrid Prius will hit Korea in October of next year, likely costing W29 million.
Honda said Thursday that New Insight will be sold in the U.S. from April next year at $18,500 which is cheaper than the U.S. price of Civic 1.8, sold at W25.9 million in Korea. New Insight is similar in size with Korean carmaker Kia's Pride Hatchback and has higher fuel efficiency of 30km/L than the Civic hybrid (23.2km/L).
A Toyota official has recently said the company is trying to lower the price of the Prius to below W30 million for sale in Korea.
Hyundai's Avante hybrid is expected to cost W20-24 million, W4 million higher than the existing Avante. A Hyundai official says the Avante hybrid, running on LPG which is half the price of gasoline, will be far more fuel-efficient than rival Japanese brands, stressing the competitive edge in both price and economy.
(englishnews@chosun.com )
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