Honda Motor Co. revamped its Life minicar for the first time in five years after posting the biggest drop in domestic minicar sales among the country's carmakers.
Japan's second-largest automaker aims to sell 13,000 units of the Life a month, after the model goes on sale Friday, it said in a statement Thursday.
Tokyo-based Honda will price the new Life starting at ¥945,000.
Honda's minicar sales fell 13 percent in the first 10 months, as drivers shunned its aging models in favor of Daihatsu Motor Co.'s Move and Suzuki Motor Corp.'s WagonR, Japan's top selling vehicle.
Industrywide minicar sales slipped 2.4 percent in the period as a cooling economy damped consumer spending.
Daihatsu introduced the new Move Conte in August, aiming to sell 4,000 units a month. The model is priced from ¥1.04 million. Suzuki began selling a revamped WagonR in September, setting a monthly sales goal of 18,000 units. The WagonR is on sale from ¥908,000.
The Life is built by Yachiyo Industry Co.'s factory in Mie Prefecture. Honda took control of Yachiyo in 2006 to speed up minicar development. Minivehicles are powered by engines no larger than 660cc.