Honda has proven once again that it is one of the most reliable and popular brands in the US market. The Japanese automaker posted robust sales results for November 2023 despite the ongoing challenges of the global chip shortage and supply chain disruptions. Honda also earned the top spot as the #1 mainstream brand in residual values for the third consecutive year, according to ALG, a leading provider of vehicle depreciation data.
Honda’s November Sales Highlights
According to the official press release, American Honda sold a total of 104,969 vehicles in November, a 7.8% increase compared to the same month last year. Honda’s car sales rose by 11.9%, while its truck sales grew by 5.1%. Some of the best-selling models for Honda in November were:
- Civic: The 11th-generation Honda Civic continued to impress customers with its sporty design, advanced technology, and fun-to-drive performance. Civic sales reached 23,377 units, a 32.4% increase year-over-year and the best November result since 2017.
- Accord: The 2024 Honda Accord, which features a sleeker exterior, a more powerful hybrid system, and a quieter cabin, also saw a strong demand in November. Accord sales totaled 18,501 units, a 10.2% increase year-over-year and the best November result since 2018.
- CR-V: The 6th-generation CR-V, which combines a spacious and modern interior with an adventurous and efficient driving experience, remained one of the most popular compact SUVs in the US market. Honda CR-V sales reached 24,039 units, a 2.4% increase year-over-year and the best November result ever.
- Passport: The 2024 Honda Passport, which offers a top-of-class combination of off-road capability and on-road dynamics, also had a record-breaking month. Passport sales soared to 4,621 units, a 40.9% increase year-over-year and the best November result ever.
Honda’s electrified vehicle sales also continued to set records, as the CR-V Hybrid and the Accord Hybrid combined for 19,441 units in the first 11 months of 2023, surpassing the annual electrified sales record set in 2020.
Honda’s Residual Value Awards
In addition to its impressive sales performance, Honda received recognition from ALG for its outstanding residual value. Residual value is the amount of value a vehicle retains after three years of ownership, and it is an important indicator of the quality, durability, and desirability of a vehicle.
Honda was named the #1 mainstream brand in residual values for the third straight year, tying for the most category wins across luxury and mass market segments. Four Honda models won their respective segments in residual value, as follows:
- Civic: The Civic won the Compact Car segment for the third consecutive year, thanks to its reputation as the most fun-to-drive and technologically advanced Civic in the model’s 50-year history.
- Accord: The Accord won the Midsize Car segment for the second consecutive year, thanks to its sleeker design, more advanced sporty hybrid system, and improved safety and connectivity features.
- CR-V: The CR-V won the Compact SUV segment for the first time, thanks to its 6th-generation redesign that offers a sporty and modern interior, an adventurous and fun-to-drive experience, and a range of powertrain options, including a hybrid-electric variant.
- Passport: The 2024 Honda Passport won the Midsize SUV 2-Row segment for the fifth year in a row, thanks to its top-of-class combination of off-road capability and nimble on-road dynamics and its spacious and versatile cabin.
ALG praised Honda for its measured approach in releasing new products, trim levels, and powertrains, which helped the brand maintain its strong demand and high residual value in the US market.
Conclusion
Honda has demonstrated its leadership and excellence in the US auto industry with its robust sales results and residual value awards in November 2023. The brand has proven that it can overcome the challenges of the global chip shortage and supply chain disruptions and deliver high-quality, reliable, and desirable vehicles to its customers. Honda’s car and truck lineup, as well as its electrified vehicle portfolio, offer a range of options for different needs and preferences, and they all share the common traits of durability, efficiency, and performance. Honda is expected to continue its sales momentum and residual value success in the coming months as it prepares to launch its first volume battery-electric vehicle, the Prologue SUV, in 2024.
