Honda Motor Co. will debut its remodeled Fit hatchback Friday in Japan to challenge Toyota Motor Corp.'s lead in hybrid compacts.
The third-generation Fit will be priced from ¥1.26 million for the gasoline version, Honda said in a statement Thursday. Sales are targeted at 15,000 units a month.
Honda President Takanobu Ito intends the revamped Fit, sold as the Jazz in some markets, including China, to help increase annual sales to 6 million vehicles by March 2017 and dent the dominance of Toyota's Prius c. Ito is counting on growth in emerging markets and demand for compacts such as the Fit, the smallest in Honda's portfolio and its best-seller in Japan, as motorists increasingly buy small cars.