Honda Motor Co. launched its new Mobilio Spike multipurpose wagon on Wednesday, hoping to maintain brisk car sales amid weak domestic demand.

The new model, which has an engine displacement of 1,500cc, features a versatile cargo space and is based on the same platform as the Fit compact and the Mobilio minivan.

Honda was to begin marketing the Mobilio Spike nationwide on Thursday. The vehicle is priced between 1.35 million yen and 1.68 million yen, and Honda hopes to sell 5,000 units per month, a Honda official said.

Honda President Hiroyuki Yoshino said his company plans to develop and manufacture in China next year a new compact model using the same platform. Honda currently produces the Accord and the Odyssey in China.

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