How Honda is Winning the War on Driving with Residual Value and Sales Momentum

Honda is not just a car company. It is a force of nature that is reshaping the automotive landscape with its relentless focus on value, quality, and innovation. Honda is not only selling more cars than ever, but also retaining more value than any other mainstream brand in the US market. This is how Honda is winning the war on driving, and why you should pay attention.

Honda Leads the Pack in Residual Value

Residual value is the amount of money a car is worth after a certain period of ownership, usually three years. It is a key indicator of how well a car holds its value over time, and how much it will cost to own and operate. Residual value is influenced by many factors, such as supply and demand, reliability, durability, fuel efficiency, safety, technology, and design.

According to ALG, an industry leader in forecasting new vehicle depreciation, Honda is projected to retain higher value after three years of ownership than any other mainstream auto brand. This is the third straight year that Honda has earned this recognition, which is based on an analysis of historical performance, industry trends, and economic factors.

Honda also has four models that won the ALG Residual Value Awards in their respective segments: the Civic, the Accord, the CR-V, and the Passport. These models lead the pack in their categories, beating competitors from Toyota, Hyundai, Subaru, and others. The Civic, the Accord, and the CR-V are among the best-selling cars in America, while the Passport is a rugged and versatile SUV that offers a top-of-class combination of off-road capability and on-road dynamics.

Honda Maintains Sales Momentum with Strong November Results

Despite the challenges posed by the global pandemic, the semiconductor shortage, and the supply chain disruptions, Honda has maintained its sales momentum with strong results in November. According to the latest report from Honda Newsroom, American Honda auto sales totaled 85,055 units, up 6.3% from the same month last year. Honda brand sales were up 7.4% to 75,812 units, while Acura brand sales were down 2.9% to 9,243 units.

Some of the highlights of the November sales report are:

  • Honda Civic sales rose 25.8% to 19,307 units, driven by strong demand for the all-new 11th-generation Civic sedan and hatchback, which offer a fun-to-drive and technologically advanced experience.
  • Honda Accord sales increased 10.6% to 16,819 units, boosted by the popularity of the 2024 Accord, which features a sleeker design, a more advanced sporty hybrid system, and a quieter cabin.
  • Honda CR-V sales grew 8.4% to 23,857 units, supported by the 6th-generation CR-V, which combines a sporty and modern interior, an adventurous and fun-to-drive performance, and a hybrid-electric option.
  • Honda Passport sales surged 40.6% to 3,057 units, reflecting the appeal of the 2024 Passport, which offers a top-of-class combination of off-road capability and nimble on-road dynamics.

Honda’s Strategy for Success

How does Honda achieve such impressive results in both residual value and sales momentum? The answer lies in Honda’s strategy, which is based on three key principles:

  • Measured approach in the release of new products, trim levels, and powertrains. Honda does not flood the market with too many models or variants but rather focuses on delivering quality and value to its customers. Honda also takes time to introduce new technologies or features, but rather tests and refines them until they are ready for the market. This ensures that Honda’s products are reliable, durable, and satisfying to own and drive.
  • Continuous improvement and innovation. Honda strives to improve and innovate its products and services. Honda listens to customer feedback and market trends and applies its engineering expertise and creativity to enhance its offerings. Honda also invests in research and development and collaborates with partners and suppliers to advance its technologies and capabilities.
  • Customer-centric and socially responsible philosophy. Honda puts its customers first and aims to deliver products and services that meet or exceed their expectations. Honda also cares about its social and environmental impact and works to reduce its carbon footprint, promote safety, and support communities. Honda’s philosophy is expressed in its slogan, “The Power of Dreams”, which reflects its passion, optimism, and aspiration to make the world a better place.

Conclusion

Honda is winning the war on driving with its outstanding performance in residual value and sales momentum. Honda’s products offer a compelling value proposition to customers, who can enjoy a high-quality, fun, and safe driving experience while saving money on ownership and operation costs. Honda’s strategy is based on a measured approach, continuous improvement, and customer-centric philosophy, which enable it to deliver industry-leading value and innovation. Honda is not just a car company. It is a force of nature that is reshaping the automotive landscape with its relentless focus on value, quality, and innovation.

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