COLUMBUS (COLUMBUS BUSINESS FIRST) — Inventory shortages continue to hold back Honda Motor Co. monthly sales in the U.S.
The Honda and Acura brands combined for 97,083 vehicles sold in October. That’s down 23.5% from the same period in 2020.
The company (NYSE:HMC) noted that there has been limited supply of key Honda and Acura models, most notably the all-new models of the Honda Civic and the East Liberty-built Acura MDX.
After a strong performance for much of the year, inventory shortages caused by microchip supply chain issues began to catch up with Honda in the past three months.
Even with that, the automaker is pacing well ahead of its 2020 results with more than 1.2 million vehicles sold through the first 10 months of the year, a 15.2% rise over the same period last year.
Sales of vehicles of note in October:
- Marysville-built Accord fell 19.8% to 15,386.
- Civic dropped 38.7% to 13,399.
- East Liberty-assembled CR-V declined 21.7% to 25,393.
Honda did note some bright spots. The HR-V posted its ninth consecutive monthly sales record while the Passport just missed a 10th consecutive monthly record. Electrified vehicles also had another record month and are nearing sales of 100,000 units this year.
Toyota, Hyundai, and Kia all also reported monthly sales declines for the third consecutive month as the same supply issues are impacting the sales for those automakers as well, according to sales results compiled by Automotive News. The trade publication said monthly sales for those manufacturers that still report that measure were expected to drop between 20% and 30% in October, putting Honda’s sales right amid that range.
Full Honda results can be found here.
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