Honda CEO Pushing for Hybrid Development

Honda CEO Takonobu has admitted their Honda hybrids just aren't good enough to beat out the Toyota Prius (Source: Autonews). And with that, he's pushing his Research and Development to develop and expand their hybrids.

And with it, Honda will get a new hybrid, something that's ready for their large vehicle platforms, not just the smaller (Insight and Civic) platforms.

The Toyota Prius outsold the Insight by almost a 7:1 margin. Honda had targeted 90,000 sales for their Insight, but later brought it down to 60,000. The lower cost Insight was supposed to compete with the Prius. But at just under at most $2 thousand savings, the Insight has not competed with the Prius. Instead, it seems to be drawing sales away from the Honda Civic Hybrid instead.

"Are we happy with how sales are going? No, we're not happy," said John Mendel, American Honda's executive vice president, in an interview last month.