American Honda CEO Says Last Month's Accord Sales Numbers "Not Satisfactory"
You know you're in the presence of tough company when your CEO says 26,771 midsize cars sold last month alone just wasn't good enough. But Honda's Tetsuo Iwamura isn't used to his company's 2012 Honda Accord playing third behind the Toyota Camry and Nissan Altima in the family sedan arena. "We are not satisfied with that," says Iwamura to Reuters regarding 2012 Honda Accord sales, as well as much of the brand's North American lineup. In total, Honda is down 7.7 percent year-over-year versus where it was last year. Through March, the automaker has moved 61,132 Accord coupes and sedans, down 10 percent through the first three months. Numbers should start to tell a different story for the remainder of the year, however, as Honda enjoyed plenty of success at this time last year up until devastating earthquakes destroyed much of Japan's infrastructure in March 2011. Honda's still recovering from their effects. Iwamura said even though all of its plants are back online, the automaker is still struggling with inventory problems. Couple to that a flood of new vehicles entering the market and Nissan's value-priced Altima taking conquest of many shoppers who would have ordinarily looked first at the Accord, and it's a recipe for slumping sales. In the coming months, Honda looks to rectify its problems with its new 2013 Honda Accord sedan and coupe, which have not yet been shown to the public in production form. At January's 2012 North American International Auto Show in Detroit, Honda showed a lightly veiled concept version of its next-generation Accord coupe. Until then, however, the North American-built 2012 Honda Accord will be tasked with maintaining sales numbers, keeping under pressure as a placeholder with an angry CEO wondering why it's not keeping pace with its newer, more sophisticated rivals. Source: Reuters, Honda
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