Honda has announced that with its new hybrid Accord V-6 model coming out, sales of its hybrid vehicles in the United States will catipult to over 45,000 next year. Honda expects that its Accord hybrid sales will amount to some 20,000 cars next year. Honda is planning to market the hybrid to, "affluent, well-educated professional of around 50, with a household income of $100,000-plus."
The microeconomic implication of this recent development is that with hybrid sales taking off, American's are now being seen responding to surges in oil prices. Also, Honda found an incentive in continuing to develop and release models that would further its plans to provide an adequate return on its investment while at the same time further protecting the environment. Consumers are responding to incentives in that the new hybrid vehicles get better gas mileage which means less money at the pump.