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2010 Honda Insight gets priced

Honda's Insight has been making the rounds here at DailyTech for quite some time. The vehicle first made an appearance as a concept car at the 2008 Paris Auto Show and was revealed in production form at the Detroit Auto Show.

Ever since the vehicle was first announced, Honda batted around the idea of releasing the vehicle in the U.S. with a price tag below $19,000. Today, however, Honda announced the official starting price of the Insight and it will actually be priced just below $20,000.

The 2010 Honda Insight LX will have a base price of $19,800 -- this compares to a $22,000 base price for the standard 2009 Toyota Prius. The next trim level is the Insight EX which will be priced at $21,300. Those that wish to have integrated GPS will have to part with $23,100.

The Honda Insight uses a 1.3-liter four-cylinder engine paired with the Integrated Motor Assist (IMA) hybrid system. The vehicle is EPA rated at 40 MPG in the city and 43 MPG on the highway.

The 2010 Honda Insight will face stiff competition from Toyota's third generation Prius. The 2010 Prius will launch later this year and will have an EPA combined rating of 50 MPG.

It is not known if Toyota will lower the price of entry of the new Prius to combat the Insight in the U.S. It's possible that Toyota may take a page from its Japanese strategy and offer the current Prius at a lower price and maintain the 2010 model as a "premium" offering.

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RE: Cool
By sinclaj1 on 3/10/2009 4:41:35 PM , Rating: 3
Actually, you're not saving much (if anything) once you factor in the interest over the life of the loan and the replacement of the car's hybrid battery.

Let's take $20k vs $25k at 7.5% for 60 months, for example. $5k is about the average cost difference between a non-hybrid and a similar hybrid model:

From auto-loan calculator:

$20k @ 7.5% x 60 mos = $24,045
$25k @ 7.5% x 60 mos = $30,056

The interest difference alone is $1k for each $5k difference in price, assuming you can snag a rate that low. The Federal tax credit for hybrids will take out a little, but not much of that. The cost for replacing the battery will add more to it.

I'm not against hybrids. I love the idea and the technology, and I owned one for several years, but I bought it when it was priced UNDER retail with great financing. Only then does it make clear sense. Now with gas prices down under $2 and dealerships scrambling to sell cars, now may be that time again.

Otherwise, it's as simple as paying for a $25k car over a $20k one. The $20k one will simply draw more buyers if it is a solid, dependable, and reasonably fuel efficient car.

"I mean, if you wanna break down someone's door, why don't you start with AT&T, for God sakes? They make your amazing phone unusable as a phone!" -- Jon Stewart on Apple and the iPhone
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