Dealers are blaming the inability to find good lease deals.
Despite being all-new for 2018, and winning the 2018 North American Car of the Year contest, the Honda Accord has not been the success the Japanese manufacturer hoped. According to CarSalesBase data, 19753 examples the sedan was delivered in February 2017, down 22 percent from February 2017. This is causing hundreds of new Accords to sit in the waiting room for their new owners for many weeks or even months.
Automotive News reports that inventory levels were at 104 days supply as of March 1. This is extremely high, by any standards. According to reports, dealers across the United States blame the shortage of attractive lease deals. One dealer even stated that Honda is leaving buyers who lease only.
This segment is booming SUV. February results for the Nissan Altima as well as the Ford Fusion are similar. Both sales are down approximately 25% year-over-year. However, the Toyota Camry has seen a strong 7.1 percent increase in sales due to its attractive lease offers.
Dave Conant, the owner of Conant Auto Retail Group, which operates four Honda stores in California, said, “I’ll surprise if we don’t see some help. They won’t let the car sit on their lot. The gap between the old car and the new car is too big without the incentive support. They must do something to make that happen, so the car can start selling and leasing again.
A quick comparison shows that Honda asks $249 per month for an entry-level Accord LX with $3199 down. In Miami, a Camry is available for $199 per monthly with $3198 down.