TORRANCE, CA --- Honda will reveal a concept version of its new small hybrid vehicle, to be named Insight, at the 2008 Paris International Auto Show, Oct. 2, the company announced.

The new Insight Concept shares styling cues with the Honda FCX Clarity fuel cell vehicle and will provide an early look at the five-passenger hybrid vehicle.

Going on sale in the U.S. next spring, the Insight will come to market at a price significantly below hybrids available today, Honda said.

"The original Honda Insight pioneered hybrid technology in the U.S. and remains a symbol of Honda's commitment to innovative technology and fuel efficiency," said Takeo Fukui, Honda Motor Co. Ltd. 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."

Honda achieved a significant cost reduction in Integrated Motor Assist (IMA) components. The production Insight will be offered as a five-door, five-passenger hatchback. Numerous technologies, including a function to assist customers in achieving more fuel efficient driving habits, will be applied to achieve a further improvement in fuel efficiency, Honda said. Along with the Civic Hybrid, the new vehicle will be produced at an expanded hybrid vehicle production line at the Suzuka factory in Japan.

The Insight is expected to have annual global sales of 200,000 units per year -- approximately 100,000 in North America. Following the launch of the new Insight, Honda also plans to introduce another sporty hybrid vehicle based on the CR-Z, first shown at the 2007 Tokyo Motor Show.

All together, Honda expects its global sales of hybrids to increase to approximately 500,000 units a year, or more than 10 percent of its total worldwide annual automobile sales.