Honda and Acura: the sales of their cars fall drastically after inflation

Honda and Acura: the sales of their cars fall drastically after inflation

Sling it’s not going through a good time. Of course, every automaker is currently struggling with various supply chain issues, but sales reports show Japan’s second-largest automaker one of the hardest hit. As stated in Honda’s July 2022 figures released on August 2, delivered 47.4% fewer vehicles than in July 2021. Year-to-date, Honda’s total sales are down 40.4%.

Honda HR-V 2023. / Photo: Courtesy Honda. Credit: Honda | Courtesy

Honda sales in numbers

Honda sold 135,542 cars in July of last year. Today, that number is just 71,235, and profits have declined as a result. The company’s net income has fallen 33% to $1.09 billion year-over-year.

Honda’s chief financial officer, Kohei TakeuchiHe said that inflation and rising interest rates “will eventually have an impact on the economy,” which may affect demand in the future. However, that’s not what his focus is on right now, as he says he’s focusing on delivering vehicles to customers rather than taking immediate action to counter a downturn.

Which models are the ones that have had the least sales

Certain subsections of Honda’s lineup have been hit particularly hard. The sales of Honda HR-V they are down almost 70% compared to July last year. The sales of Honda Civic they are also down 67.4% over the same period. All Acura and Honda models are down year-over-year with the exception of the NSX and Integra. The former is very low-volume and received a major update with the Type S, and the latter is an all-new model that wasn’t available in 2021.

Honda Civic Sedan Touring 2022. / Photo: Courtesy Honda. Credit: Honda | Courtesy

Acura sales are down sharply

Even Acura’s most popular offerings, its SUVs, are down dramatically compared to last year. MDX sales were down 50% and RDX sales were down a whopping 72.8%.

What happened to some other car brands

Most automakers have posted year-over-year declines, but none in the neighborhood of 50% like Honda. Toyota, Subaru, and Mazda posted volume reductions of 21.2%, 17.1%, and 28.5%, respectively. Honda is struggling and expects supply chain problems to spill over into 2023.

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