Scheduled for an initial release in Japan then in the U.S., Honda Motor Co. announced its intention to put the hybrid version of its Fit sub-compact in showrooms by late 2010. The gas-electric Fit will go on sale in Japan first, with shipments to the U.S. following shortly thereafter.

Reports from Japan's Nikkei Business Daily put the price of the sub-compact at $15,800, which at $3000 below that of the Honda Insight, is considered by auto experts to be unrealistically low, and would expect the price in the U.S. to reach $21,000.

The original release date for the gas-electric Fit was to be early 2012, but was updated to coincide with the increased demand for environmentally friendly vehicles now permeating the market. Honda is also planning to release three other hybrids by 2012, conforming to predictions that, by 2020, over 20 percent of cars on the road will be hybrids or other alternative fuel vehicles.