HONDA-ACURA: Sales boom in June, Q2 as inventory recovers

American Honda Motor Co. posted second-quarter sales of 347,025, a 45 percent increase compared with last year.

The automaker, dogged by supply chain issues for the majority of 2022 resulting in a 17-month sales slump, is finally seeing some production momentum as it builds back dealership stock. According to the company, dealers are reporting turn rates of more than 70 percent.

Mamadou Diallo, senior vice president of auto sales for American Honda Motor Co., said in a statement that despite some persisting industrywide logistics issues, dealers are doing a notable job of getting products to customers.

Combined Honda and Acura sales rose 57 percent to 111,498 in June over the year-earlier period, marking four consecutive months of growth for the automaker. In the first half of 2023, the brands logged combined sales of 631,532, an increase of 25 percent compared with the same period last year.

Honda’s second-quarter sales rose 43 percent to 306,848 compared with 2022 on increased supply as well as demand for the redesigned Accord and CR-V hybrids, which surpassed combined deliveries of 26,520 in June, setting a monthly record. Honda says 53 percent of Accord and CR-V buyers are opting for the electrified models, which are positioned at the top of the lineup.
In June, Honda sales jumped 54 percent to 98,327. Monthly sales of the redesigned CR-V compact crossover topped 30,000 for the fourth month in a row. The Pilot midsize crossover and HR-V subcompact crossover, also newly redesigned, posted strong results in June as well.
Acura notched sales of 40,177 in the second quarter, a 63 percent increase compared with the second quarter of 2022. Acura’s June sales of 13,171 rose 83 percent over the year-earlier month. It’s the fourth-straight month the premium brand has achieved over 13,000 sales.
Diallo said Acura’s Integra sport sedan continues to be a leader in the “luxury gateway segment,” with sales topping 2,500 for the fifth month in a row. The MDX and RDX crossovers also posted sizable gains.

Notable nameplates: Accord, up 68% in June and 49% in Q2; Civic, up 66% in June and 52% in Q2; HR-V, up 57% in June but down 11% in Q2; CR-V, up 36% in June and 66% in Q2; Passport, up 51% in June and 29% in Q2; Pilot, up 86% in June and 39% in Q2; Ridgeline, up 58% in June and 37% in Q2; Integra, up 75% in June, 8,808 sales in Q2 vs. 1,496 a year earlier; MDX, up 100% in June and 67% in Q2; RDX, up 88% in June and 39% in Q2

Inventory: Honda said it’s starting July with 35,000 Hondas and 19,000 Acuras in stock on the ground. Last year, the automaker started July with just 10,500 Honda and 4,200 Acura models on hand.

Did you know? Some logistics issues stifled deliveries of the second-gen HR-V, but the small crossover still topped sales of 9,000 in June.