Honda expected to ramp up incentives to boost sales of new Accord

Article by Christian Andrei, on September 10, 2012

Honda Motor Co. is launching the 2013 Accord this month amid hopes that it will help in regaining its share in the all-important U.S. market. The next-generation mid-sized Accord, the company’s main model, competes in the largest and most challenging segment. You can’t accuse its rivals of complacency either.

Toyota, Nissan, General Motors, and Ford are all launching redesigned models too. According to Honda Vice President Mike Accavitti, the Accord is the “single most important model” in its range. Analysts are saying that the 2013 Accord has to do really well after the 2012 Civic small car received bad reviews for its boring design and bumpy ride.

For Honda to reach its worldwide sales targets, the new Accord has to be successful. It will be available with a new generation of engines and transmissions to increase fuel efficiency. Honda is aiming to attain a global sales target in the financial year to March 2013 of 4.3 million vehicles. This is 38% higher than the prior year, with North America making up around 40% of the total figure.

Honda believes that its U.S. sales this year will reach nearly 1.3 million vehicles. TrueCar.com said that with an annual sales target of 350,000 cars in the U.S. market for the ninth-generation Accord, the automaker faces a huge challenge as it had its market share in this segment fall to 12.2% so far this year from 15.7% in 2009. 

Although the pricing was not announced, the 2013 Accord is expected to carry a price tag similar to the current model, which starts at $22,280. In order to boost sales, Honda is will ramp up incentives, just like it did with the Civic.

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