Kyodo News reports that Honda Motor Co. has decided to sell its new hybrid car for around 1.59 million yen (about $18,600), which will be the lowest price for a gasoline-electric vehicle sold in Japan, according to company sources.

The Japanese publication said the price of Honda’s new Fit compact car (pictured), to be released in October, will be some 300,000 yen ($3,492) lower than the 1.89 million yen ($20,960) price tag for the cheapest model of its Insight hybrid put on sale in February last year.

Edmunds.com