Autoblog

Honda could halve its US lineup without crimping its sales much [w/video]

Jeffrey N. Ross — Sat, 18 May 2013 15:13:00 EST

Taking a detailed look at the Honda lineup in the US, it isn't hard to see the strength of some models and the weaknesses of others. A recent report on Autoline Daily points out that its five core models - the Accord, Civic, CR-V, Odyssey and Pilot - make up a full 93 percent of Honda's sales in the US. Through April, Honda has sold 419,798 vehicles, and 389,474 of them were from these core models; not to mention the fact that the Accord was the top-selling car in the US last month.

This means that Honda could technically cut six of its 11 models and only lose about 5,000 sales per month. Of course, this is just some data crunching and there is no reason to believe that Honda is planning to kill off any of its models in the near future. In fact, it seems to be committed to the Ridgeline, while Japanese-made models that may actually lose money for Honda still fill unique voids. Scroll down for the video report - fast-forward to the 1:43 mark for the Honda info.

Continue reading Honda could halve its US lineup without crimping its sales much [w/video]

Honda could halve its US lineup without crimping its sales much [w/video] originally appeared on Autoblog on Sat, 18 May 2013 15:13:00 EST. Please see our terms for use of feeds.

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Honda ups 2012 forecast by more than 25% on bullish CR-V, Civic sales

Jeffrey N. Ross — Fri, 24 Aug 2012 15:46:00 EST

Filed under: Coupe, Sedan, Plants/Manufacturing, Crossover, Honda

On the verge of launching an all-new 2013 Accord, Honda has significantly upped its expected sales figures for 2012. Riding on the success of both the new Honda Civic and the 2012 Honda CR-V, the automaker says its forecast of 2012 sales have increased by more than 25 percent from the original 1.2 million units projected earlier in the year up to 1.3 million units. This all despite having to recover from natural disasters in Asia that crippled its production and inventory.

This bullish estimate can directly be attributed to strong sales of the new CR-V and Civic, two models which account for almost half of all Honda's 732,165 units through July. In fact, the CR-V is on pace to "demolish" its 2007 sales record of 219,000 units. Compared to last year, CR-V sales are up 33.9 percent, and with five months left, Honda is well on its way of not only breaking this record but also beating out the CR-Vs closest rival - and last year's top-selling crossover - the Ford Escape. As for the Civic, despite its cold critical reception, it remains Honda's best-selling model as well as the best-selling car in its class. Things should get even better for Honda with the Accord coming out this year and an emergency-refresh Civic due out next year.

On the opposite end of the spectrum, the Honda Fit subcompact is down 26.4 percent for the year while the company's CR-Z and Insight hybrids have combined to sell just 7,194 units all year.

Overall, Honda's sales are up 18.5 through the first seven months of 2012.

Honda ups 2012 forecast by more than 25% on bullish CR-V, Civic sales originally appeared on Autoblog on Fri, 24 Aug 2012 15:46:00 EST. Please see our terms for use of feeds.

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Honda "envious" of Nissan's Qashqai, ponders rival

Jonathon Ramsey — Mon, 12 Dec 2011 18:40:00 EST

Filed under: Europe, Crossover, Nissan, UK

Honda hasn't been profitable in Europe since 2007, and would like to break the two-percent market-share barrier in the EU and Russia. To do that, it is looking at a rival to Nissan's Qashqai. Nissan's compact CUV alone outsold the entire Honda lineup in Europe in the first nine months of this year, and by no small margin: 153,079 to 105,918.

Those kinds of numbers have Honda justifiably envious of Nissan's little crossover, as apparently offering the CR-V in Europe hasn't generated the same sort of consumer response. Even so Honda's CEO, Takanobu Ito, will say nothing more than that "we are thinking about doing something like that" - a decision could still be a ways off, to say nothing of an actual production vehicle.

Nissan also has city cars like the Pixo and Micra spreading the gospel in the A-segment, and it's likely turning some of those drivers into Qashqai graduates. Likely with that in mind, the company head said they are also considering expanding the Jazz/Fit line, but a true A-segment fighter looks a long way off, with Ito saying, "maybe there will come a time when we will consider A-segment cars for Europe."

Honda "envious" of Nissan's Qashqai, ponders rival originally appeared on Autoblog on Mon, 12 Dec 2011 18:40:00 EST. Please see our terms for use of feeds.

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Honda CEO disappointed by Crosstour sales, vows to make it successful

Chris Paukert — Mon, 05 Dec 2011 13:01:00 EST

Filed under: Car Buying, Tokyo Motor Show, Crossover, Honda

In a roundtable with reporters at an event related to the Tokyo Motor Show, Tetsuo Iwamura, President and CEO of American Honda, told us that he's been surprised by the Crosstour crossover's slow sales:

"In the case of the Crosstour, I'm really disappointed because that's a nice car, [with] very beautiful styling, and it gives very good driving performance as well as packaging. But yet, we went a bit too far."

The five-door CUV has been struggling since it went on sale as a 2010 model. Through November, Honda has sold just 16,679 units this year - down nearly 36 percent from the 25,927 units tallied by this point in 2010. Honda had initially projected annual sales of 40,000 units.

Iwamura confided that, in retrospect, launching the CUV branded as the Accord Crosstour was probably a "misstep," so the company subsequently shortened its moniker to Crosstour in order to give the vehicle more of a standalone identity. In our 2009 First Drive article, we praised the Crosstour's solid driving dynamics but criticized it for awkward styling, poor packaging and visibility, a short options list and premium pricing.

In our discussion with Iwamura, we noted that while Honda continues to enjoy solid sales numbers for its longtime mainstream offerings like the Accord, CR-V and Odyssey, newer models - particularly niche offerings - have had a tougher time finding buyers (see: CR-Z, Insight, Ridgeline). Iwamura expressed that Honda is actually "quite satisfied" with sales of most of its vehicle lines, maintaining that he sees nothing systematic within Honda that has prevented the company from generating new hit models. Further, Iwamura vowed to continue development of its niche players.

In the case of the Crosstour, Iwamura pledged, "With further refinement of styling and performance, it will be a very good success, a leading model."

Honda CEO disappointed by Crosstour sales, vows to make it successful originally appeared on Autoblog on Mon, 05 Dec 2011 13:01:00 EST. Please see our terms for use of feeds.

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CR-Z, Crosstour, Insight sales hurting - Odyssey lone bright spot among new Honda models

Zach Bowman — Mon, 06 Dec 2010 19:29:00 EST

Filed under: Car Buying, Honda, Earnings/Financials

2011 Honda CR-Z - Click above for high-res image gallery

Honda has hit rough water with sales of its new CR-Z, Accord Crosstour and Insight models According to Automotive News, the three models are underperforming in a big way.

Take the Insight hybrid, which is falling 40,000 units short of even the most conservative estimates inside the company. Outsold 8-to-1 by its Toyota Prius rival, Honda has only managed to shift 19,325 units through November - the company originally targeted sales of 60,000 to 80,000.

Likewise, thus far this year, Honda has sold nearly 20,000 fewer Crosstour models than its biggest competitor - the Toyota Venza, selling just 25,927 units compared to the Toyota's 43,325. Need we remind you, Honda's original sales goal for the Crosstour was 40,000 units per year, a number we were deeply skeptical of after first driving the vehicle at its launch last November.

Although it hasn't been on the market that long, early sales for Honda's new CR-Z hybrid coupe aren't any more encouraging. Automotive News reports that Honda had conservatively intended to sell around 15,000 of the two-seat hybrids per year, but so far, only 4,373 have made their way off of dealer lots and another 3,000 are currently sitting in inventory. Thankfully, there is one bright spot in the Honda stable - the 2011 Odyssey. The minivan bowed in September, and it's performing well against a minivan segment that has heated up with a range of new competitors.

Automotive News suggests that the problem boils down to a change in Honda's image from a company with compelling products to one that plays it safe. Throw in styling that isn't for everyone and aging (but still selling) models like the CR-V and Accord, and you've got a recipe for decreased market share.

Honda, meanwhile, says that it doesn't focus on market share because that leads to bad habits (read: incentives), instead opting to focus on percentage-increases in vehicles sold. That's a fair strategy, but slow sales of key new models suggest that Honda needs to do some soul-searching. Might we suggest getting back to its roots as an engineering-driven car company?

Gallery: 2011 Honda CR-Z: Review

Photos copyright (C)2010 Steven Ewing / AOL.

[Source: Automotive News - sub. req.]

CR-Z, Crosstour, Insight sales hurting - Odyssey lone bright spot among new Honda models originally appeared on Autoblog on Mon, 06 Dec 2010 19:29:00 EST. Please see our terms for use of feeds.

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Honda in the black, fourth quarter profits up by 28%

Zach Bowman — Wed, 28 Apr 2010 13:29:00 EST

Filed under: Car Buying, Japan, Honda, Earnings/Financials

Honda has officially joined the ranks of automakers like Kia and Ford by posting solid profits during the fourth quarter of the company's fiscal year. The Japanese automaker managed to see profits rise by 28 percent compared to the same period last year, thanks largely to increased hybrid sales. The announcement marks the fourth-straight quarter of profits for the company after seeing a rare operating loss at the end of March, 2009.

Sales in Japan have been bolstered by sales of the incredibly popular CR-Z Hybrid. Earlier this month, Honda announced that it had received over 7,000 orders for the two-door hatchback, which accounted for over half of the models the company had set aside for sale in its home market.

Honda also attributed its quick recovery to the fact that its lineup is comprised mostly of fuel-efficient vehicles - something buyers in a global recession have been quick to appreciate. Analysts also point to a healthy dose of cost-cutting measures as bearing credit for the rebound, too. Based on the good news, the carmaker hopes to see its growth continue through the rest of 2010.

[Sources: Honda, Mainichi Daily News | Image: Justin Sullivan/Getty]

Honda in the black, fourth quarter profits up by 28% originally appeared on Autoblog on Wed, 28 Apr 2010 13:29:00 EST. Please see our terms for use of feeds.

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REPORT: Honda to supplant Chrysler as America's 4th largest auto retailer

Chris Shunk — Mon, 07 Dec 2009 08:58:00 EST

Filed under: Car Buying, Chrysler, Honda

Throughout most of the history of the US auto industry, the Detroit Three sat atop of the sales charts with General Motors claiming first, Ford in second and Chrysler placing third. In the past few years Toyota has clawed its way past Chrysler and then Ford, and now it appears that Honda too has now passed the Pentastar. Barring some miraculous (and we mean truly outstanding) development, Honda will officially overcome Chrysler to become the fourth largest automaker in the States. Honda holds a rather insurmountable 200,000 unit cushion against its competition from Auburn Hills, MI -- more vehicles than any automaker sold during the month of November. Speaking of November, Chrysler was the only major automaker to see a sales decline, down 18.5 percent with a mere 65,000 units sold. Honda fared better with over 74,000 products sold.

While Honda's victory on the sales charts is indisputable, neither automaker is making a big deal about it. A Honda exec reportedly told Automotive News that it only worries about it internal sales numbers and doesn't focus on ranks. Chrysler spokeswoman Kathy Graham told AN that the company is on the right track to improve its standing, adding, "We are taking the steps that are necessary to have a good foundation and to build consumer confidence." Graham also said that the company is expecting better results in the future on account of its increased advertising spending. If Chrysler doesn't reverse its sales slide, the next automaker to pass team Pentastar could be Nissan -- the Japanese automaker finished only 7,000 units behind Chrysler in November.

[Source: Automotive News - sub. req'd]

REPORT: Honda to supplant Chrysler as America's 4th largest auto retailer originally appeared on Autoblog on Mon, 07 Dec 2009 08:58:00 EST. Please see our terms for use of feeds.

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Edmunds data suggests Honda Crosstour buyers don't know what it competes against either

Dan Roth — Fri, 20 Nov 2009 17:01:00 EST

Filed under: Car Buying, SUV, Wagon, Crossover, Hatchback, Honda, Design/Style

2010 Honda Accord Crosstour - Click above for high-res image gallery

The 2010 Honda Accord Crosstour hasn't won too many fans amongst the automotive press, and while we're sure it fills the Accord Wagon space in Honda's lineup, the way the Crosstour has a foot both in the wagon and CUV realms still has us scratching our heads. Taking a peek at what's being cross-shopped against Honda's latest offering proves potential customers are in the same boat.

Fitting every car into a neat categorical box is a fool's errand, but the Crosstour is apparently making everyone wonder just where it belongs. According to early Edmunds' data, buyers seem to think the Crosstour competes most closely with the Toyota Venza, with ToMoCo's wagon-on-stilts being cross-shopping against the Crosstour more than any other vehicle. Other Honda models are also heavily considered against the Crosstour, according to Edmunds Auto Observer, as are a panoply of other cars. Luxury rides like the Audi A4 and BMW 3 Series wind up in the comparison column, as do more traditional crossovers like the Chevrolet Equinox and Toyota RAV-4.

While the Crosstour has been called lots of unflattering things, it's clear that figuring out whether it's neatly described as fish or fowl is more of a thorny chestnut. That said, none of this is exactly important if the car is generating showroom traffic and moving units.

Gallery: First Drive: 2010 Honda Accord Crosstour

Photos copyright (C)2009 Chris Paukert / Weblogs, Inc.

[Source: Edmunds Auto Observer]

Edmunds data suggests Honda Crosstour buyers don't know what it competes against either originally appeared on Autoblog on Fri, 20 Nov 2009 17:01:00 EST. Please see our terms for use of feeds.

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Abracadabra: Honda pulls a Q1 profit out of its hat

Chris Shunk — Wed, 29 Jul 2009 17:29:00 EST

Filed under: Honda, Earnings/Financials

2010 Honda Insight EX - Click above for high-res image gallery

Honda has announced earnings for the quarter ending June 30, and the results were more than a little surprising. While analysts expected a loss of 106 yen ($1.1 billion US), Honda instead turned an operating profit of 25.2 billion Yen ($267 million US).

Honda's surprise profit comes in part because of the success of the hybrid Insight in Japan, where the suddenly strong Yen doesn't run into currency exchange issues. Honda is forecasting continuing currency issues, as the automaker sees the yen gaining still more ground verses the US dollar later in 2009. The hot-selling Fit and always strong Accord are also helping the bottom line, helping stabilize sales while companies like Toyota continue to see theirs sagging.

Automotive News is reporting that Honda's Q1 earnings were strong enough for the conservative automaker to raise its 2009 earnings forecast from 40 billion yen ($420 million US) to 70 billion yen ($737 million US). Honda has reportedly also raised its vehicle sales forecast by 85,000 units, to 3.295 million vehicles for 2009.

Gallery: Review: 2010 Honda Insight EX

[Source: Automotive News, sub. req'd]

Abracadabra: Honda pulls a Q1 profit out of its hat originally appeared on Autoblog on Wed, 29 Jul 2009 17:29:00 EST. Please see our terms for use of feeds.

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REPORT: Honda's $2.91 billion drop is first quarterly loss in 15 years

Michael Harley — Tue, 28 Apr 2009 18:00:00 EST

Filed under: Japan, Plants/Manufacturing, Honda, Earnings/Financials

An operating loss of ¥283.0 billion ($2.91 billion at current exchange rates) for the period ending March 31 represents Honda Motor Company's first quarterly loss in 15 years. To put that into proper perspective, that was when Honda was plying the 1994 model year Accord wagon shown above.

The automaker also reported global sales to distributors and dealers were down 680,000 units, or more than 35 percent. In North America alone, volume slid from 459,000 units last year, to just 219,000 units this year. For the period, Honda reported regional operating losses in all major markets.

While the news was anything but pretty, the automaker is still faring better than many of its rivals. Chrysler LLC and General Motors are currently toiling to stay afloat. Closer to home, rival Toyota is expected to announce its first loss later this month. Honda's Executive Vice President Koichi Kondo, however, is reportedly confidently optimistic. The company will focus on fuel efficient vehicles, leverage its flexible manufacturing, and engage in aggressive cost cutting to keep the company profitable in the current fiscal year, even as sales are predicted to continue their decline.

[Source: Automotive News, subs. req'd]

REPORT: Honda's $2.91 billion drop is first quarterly loss in 15 years originally appeared on Autoblog on Tue, 28 Apr 2009 18:00:00 EST. Please see our terms for use of feeds.

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