Honda unveils a cheaper hybrid challenger to Toyota’s top-selling Prius

Our post from yesterday talks about America’s most popular hybrid, the Toyota Prius, whose sales account for 75 percent of the hybrid market in the United States.  Today, here is an article from the New York Times reveals that a rival to the Prius is coming soon. 

Honda is hoping to challenge the dominance of the Prius with the introduction of their new Insight hybrid. Although this vehicle is smaller and less fuel efficient than the Prius, Honda plans to sell the Insight for about $4,000 cheaper.  The lower cost and similar design are what Honda believes will allow them to compete with the Prius. While Toyota doesn’t seem too concerned (at least not publcily), auto industry analysts believe that the Insight will reduce Toyota’s stronghold on the hybrid car market.