The automotive industry is poised for yet another strong sales month in July, and Honda is reaping the benefits.
According to data from R.L. Polk & Co., 98 percent of Honda sales in the U.S. have been sold to individual consumers. From January to June, Honda sales have hit 668,597 units, up 6.5 percent on a year-over-year comparison. The automaker noted that its four top-selling models were the Accord, Civic, CR-V and Odyssey, as all four of these vehicles are leading in their respective segments. In addition, these segments account for 50 percent of all light-duty vehicles in the country.
"We're earning our sales growth on the strength of our products and the value they deliver to individual car buyers," said John Mendel, executive vice president of sales for American Honda Motor Co. Inc. "Our strategy is unique among volume automakers, as we are focused on selling vehicles to individual car buyers and not corporate sales to fleets, which is why Honda vehicles have among the lowest cost of ownership and highest resale values in the industry."
For any car owner, preserving the value of their vehicle is important and is one reason why buyers choose Honda. However, there are other ways to ensure a vehicle stays appealing for years to come. Husky Liners® car floor mats fit seamlessly into a car's interior. These liners will ensure spills and stains stay off the car's carpet and make cleanup easy.
Buyers want appealing vehicles
J.D. Power's 2013 U.S. Automotive Performance, Execution and Layout recently indicated that the appeal of a vehicle goes a long way. The study showed that appealing cars are more likely to sell faster, demand higher prices and encourage buyers to become brand loyal.
"Appealing vehicles are simply good news for both consumers and automakers," said David Sargent, vice president of global automotive at J.D. Power. "Even within the same vehicle segment, consumers are willing to spend substantially more on vehicles that they find attractive, provide the performance and utility they are looking for and have well-executed interiors. These vehicles also sell more quickly."
The study rates appeal on a 1,000-point scale based on 77 aspects of the vehicle. Vehicles with an appeal rating that exceeds 100 points spend at least $1,800 more on their car when compared to owners of vehicles that scored below 100 points. In addition, 64 percent of owners of vehicles that scored more than 100 points buy the same brand vehicle the next time the make a purchase, compared to 55 percent of owners of the vehicles that scored less than 100 points.
Sales continue at strong pace in July
TrueCar.com recently released a report indicating that new light vehicle sales are forecasted to reach 1,326,035 units in July.The report indicated that the sales are 15.3 percent higher than sales in July 2012 and 5.1 percent higher than June 2013.
According to TrueCar, the strong sales month translates to a seasonally adjusted annualize rate of 15.8 million new vehicle sales, up from 15.9 million on a month ago and up from 14.1 million year ago. As trucks have been particularly popular sellers thins year and in July, buyers should also look into Husky Liners® mud guards for extra protection to their exterior.
"Value conscious buyers are devouring the compact segment inventories while the recovering housing sector is fueling the small business purchases of large trucks," said Jesse Toprak, senior analyst for TrueCar.com. "July delivered the highest year-over-year increase so far in 2013. Consumer demand for new vehicles remained healthy, with small cars/SUVs and large trucks outperforming the industry sales rate."