Honda’s US sales drop in its fiscal second quarter, global results for which were announced on Monday (31 October) was the “worst quarterly drop off we have on record” [back to 1991], according to Edmunds.com analysts in Los Angeles. US sales in the quarter were off 20.8% to 252,355 units, according to their data.

The Civic redesigned for 2011 [panned by key critics such as Consumer Reports and popular consumer magazines – ed] has just had its worst quarter “in quite some time”, according to Edmunds. Numerous recent reports in the US have said Honda has pulled forward a mid-life refresh of its usually strong selling ‘compact’ (sold as a sedan and coupe in North America rather than the hatchback offered in Europe) to 2013 from the originally planned 2014.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

“While Honda market share is down 2.3 percentage points since last year, the average transaction price for a Honda is up 5.8% and the average incentive on a Honda is down 11% year to date. This speaks to the inventory shortages the company has been experiencing since the earthquake,” Edmunds said. 

In the United States, tight inventories meant it took Honda a mere 40 days to sell a vehicle once it arrived at the dealer. Still, Honda didn’t have many vehicles to sell so sales were down nearly 21% at a time when US auto sales in total were up 6%. As a result, Honda dropped 2.7 percentage points of market share.”

“One of Honda’s venerable high-volume leaders along with the Accord, the so-called ‘new’ Civic has been highly criticised by the automotive media and did not make the cut as a candidate for the journalists-awarded North American Car of the Year honours,” noted Edmunds.com senior analyst Michelle Krebs.

See Also:

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.