Photo: HOnda
In a statement made yesterday, Japanese car company Honda announced a significant change in the hirarchy of the US consumer market. According to their numbers, the Accord range of cars was the most popular with individual US buyers. Not only that, but according to Honda, their Civic compact, CR-V small SUV and Odyssey minivan were also class leaders.
As you all know, mid-size sedans are the most popular vehicles, so overtaking the Toyota Camry in a name-calling, number crunching requires carefully measured words. By the numbers, 360,089 Accords were sold to individual US customers. Toyota actually sold over 480,000 Camry, but only 342,007 were to retail buyers.
Honda says it’s focusing on retail rather than fleets because the profit margins are bigger (more options ordered) and resale values are better, which improves the brand’s image over time.
"Our focus on retail sales to individual buyers has a direct correlation to the high resale value of Honda products, which is a key factor in the value proposition for our customers," said John Mendel, executive vice president of automobile sales for American Honda Motor Co., Inc. "We want to thank car buyers for making four Honda vehicles America's top choices, purchased one car at a time."
Ford announced a similar move about a year ago, which practically leaves Toyota with a corporate beige image.
The reality could be that Honda’s car is also slightly newer and thus more appealing. We know Toyota is preparing a redesign of the Camry which will be shown later this year. Once that is available, we’ll see if Honda can keep its current 18,000 mid-size sedan retail lead.
Honda says it’s focusing on retail rather than fleets because the profit margins are bigger (more options ordered) and resale values are better, which improves the brand’s image over time.
"Our focus on retail sales to individual buyers has a direct correlation to the high resale value of Honda products, which is a key factor in the value proposition for our customers," said John Mendel, executive vice president of automobile sales for American Honda Motor Co., Inc. "We want to thank car buyers for making four Honda vehicles America's top choices, purchased one car at a time."
Ford announced a similar move about a year ago, which practically leaves Toyota with a corporate beige image.
The reality could be that Honda’s car is also slightly newer and thus more appealing. We know Toyota is preparing a redesign of the Camry which will be shown later this year. Once that is available, we’ll see if Honda can keep its current 18,000 mid-size sedan retail lead.
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