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Honda Takes Aim At Toyota With A New Hybrid

RENEE MONTAGNE, host:

NPR's business news starts with Honda racing after Toyota's Prius. Japan's second-largest automaker is on the offensive as it tries to carve out a bigger share of the market for its hybrid vehicles. Honda just unveiled its latest hybrid offering at the Paris Auto Show. The new Honda Insight looks suspiciously like the Prius - that's Toyota's gas-electric car, the world's best-selling hybrid. But Honda says its new hybrid will be cheaper when it arrives in showrooms next spring. The market for hybrids is still small, but it's a bright spot for car makers as they struggle with plunging sales. Honda sales in the U.S. last month were down 24 percent; Toyota's were down 32 percent. Transcript provided by NPR, Copyright NPR.

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