Honda July US Car Sales Rise on Accord, Civic Demand

on August 01 2012 2:52 PM
Honda to start manufacturing CR-Vs in Canada
The Honda 2012 CRV is unveiled at the LA Auto Show in Los Angeles, California, November 16, 2011. Reuters

Honda Motor Co. (NYSE: HMC) reported on Wednesday that July U.S. sales rose 45.3 percent to 116,944 as the Japanese automaker continues its robust recovery from last year's earthquake and tsunami in Japan and flooding in Thailand.

Sales of Honda brand vehicles rose 46.4 percent to 104,119 compared to the year before, while the company's Acura luxury marque increased sales 36.4 percent to 12,825.

"As our sales momentum continues to build through the summer, Honda is experiencing its best year-to-date sales in four years," American Honda Executive VP of Sales John Mendel said, adding that the company is once again able to fully meet consumer demand.

The Honda brand had its best July sales since 2008, growth which was driven by strong demand for the Accord and Civic, both of which posted sales gains great than 70 percent and accounted for 50 percent of Honda sales combined. Similarly, sales were up 47 percent for the CR-V and 88 percent for the Odyssey.

The Acura brand benefitted from a 142 percent increase in RDX sales while sales of the popular MDX grew 24 percent.

"With the MDX continuing its reign as the top seven-passenger luxury SUV, and the new RDX leading the compact luxury segment, Acura light trucks lead the way for the Acura brand," Vice Presdient of Acura sales Jeff Conrad said.

All of Japan's major automakers suffered from considerable supply chain and production disruptions following last year's natural disasters. Honda and the others have been working to regain U.S. market share in 2012 at the expense of American companies that gained as a result of the disasters.

Honda Motor Co. (NYSE: HMC) shares fell 3.46 percent to $30.41 Wednesday afternoon.