"The original Honda Insight pioneered hybrid technology in the US and remains a symbol of Honda's commitment to innovative technology and fuel efficiency," said Takeo Fukui, Honda CEO. "This new Insight will break new ground as an affordable hybrid within the reach of customers who want great fuel economy and great value."

In September 2006, Honda stopped making the Honda Insight, a teardrop-shaped two-seater—widely perceived as impractical by consumers. Despite real-world fuel economy approaching 70 miles per gallon, the company sold fewer than 2,000 Insights in 2005, and fewer than 1,000 units through September of 2006.

The new Honda Insight, which goes on sale in the US in April, is expected to sell in relatively high quantities. Honda is targeting annual global sales of 200,000 units per year, with approximately 100,000 in North America. Honda is aiming for affordability with the new Insight, which is expected to sell for approximately $19,000—several thousand dollars below the Honda Civic Hybrid and Toyota Prius. At the same time, the new hybrid should match or exceed the fuel economy of those vehicles. The new Honda Insight will be unveiled at the 2008 Paris International Auto Show in early October.

The new Honda Insight will be more practical than the earlier Insight. It’s a five-door hatchback with ample room for five passengers. The aerodynamic design borrows elements from Honda’s FCX Clarity fuel cell vehicle, and bears resemblance to the Toyota Prius’s iconic hatchback profile. Along with Honda’s Civic Hybrid, the new vehicle will be produced at an expanded hybrid vehicle production line at the Suzuka factory in Japan.