Honda Sales Down 25.2%

honda sales down 25 2
Honda’s press release puts the number at 28.4 percent, but that’s using Daily Selling Rate nonsense. In simple terms, Honda sold 25.2 percent fewer units in calendar October 2008 than in the same period last year; which puts them in the same boat as Toyota. Only two models showed sales upsides: the Honda Fit and Acura TL. The Fit has been capacity constrained forever and is still a relatively modest player at 6,478 units for the month. The TL is likewise a niche vehicle which jumped from 3,421 units last year to 4,340 this October thanks to the all new 2009 TL. But, Acura has two disaster products on it’s hands; the forever poor-selling RL range topper and the near luxury mini-ute RDX. RDX sales collapsed from last year’s already low 1,937 to an abysmal 647 units. Back over at the Honda brand, one surprise in the numbers is the collapse of Accord sales, down from 30,936 to only 19,783, a 36 percent drop in Honda’s #1 selling product. The Odyssey, Element and MDX also all posted larger than average declines. However, for some reason the Ridgeline’s fall was a little less than the average falloff. Cash on the hood effect? Year to date, Honda is still up slightly over 2007, but that record seems likely to fall over these next two months. During the first half of 2008 Honda seemed to be playing in a different ballpark than the rest of the US auto business. But from summer on they have regressed to the mean. But hey, there is one fun-fact buried in the numbers: Honda took sales credit for one unit of the FCX Clarity hydrogen fuel cell vehicle. I wonder who the lucky customer is?
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  • Hondaphile Hondaphile on Nov 04, 2008

    I guess even Honda isn't immune to the 'recession'. Fortunately Honda is probably the automaker most capable of adapting to current trends. As far as civics go - at least in Canada it has a huge following. Best selling car here for the last decade.

  • Jthorner Jthorner on Nov 04, 2008

    There is something to the idea that the Accord is losing market share. Toyota reported Camry sales only down a few percent. http://www.marketwatch.com/news/story/Toyota-Reports-October-Sales/story.aspx?guid=%7BD37C622A-BD27-4493-8FB5-D847417C81A3%7D

  • John Horner John Horner on Nov 04, 2008

    It frosts me that while the TSX wagon is offered everywhere else in the world, albeit as an Accord Wagon, Honda USA will not even bother importing them. The additional certification costs should be minimal. The RDX, on the other hand, is based on the Civic/CR-V platform but I'm pretty sure has all custom sheet metal and is only sold in North America. It seems to me that it would have been 10x cheaper to bring in the TSX wagon then it was to do the RDX, and I bet TSX wagons would sell at least what the RDX is doing.

  • Psarhjinian Psarhjinian on Nov 04, 2008
    The additional certification costs should be minimal. The RDX, on the other hand, is based on the Civic/CR-V platform but I’m pretty sure has all custom sheet metal and is only sold in North America The thing is, the RDX is based on a cheaper platform, yet can be sold at a higher margin. A TSX or Accord wagon could sell for, at most, a grand over the sedan before consumers balked. You'll note that BMW packages their wagons with AWD and mid-trim engines in order to pad the margins and protect the X3. Honda is doing the same. Wagons will not return until fuel economy requirements make the naked margin grab that is the crossover/trucklet market impossible. Gax taxes, or perhaps a tax based on GVWR, might be a good start.

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