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Honda exec says US market near capacity, could hurt subprime buyers

Is there a point in the US auto industry where companies should start considering the welfare of their customers ahead of selling more cars? American Honda Executive Vice President of Sales John Mendel thinks that level exists, and we may be getting very close to it.
According to Automotive News, Mendel believes that finding more customers in the market could require pursuing subprime buyers and offering longer-term loans. However, he refuses to use those tactics. While selling models this way can improve things briefly, the strategies hurt resale prices and lower vehicle profits over time. The company won't do "stupid things in the short-term that damage the person who bought yesterday," he said to Automotive News. "It's a very, very short-term tactic especially in the subprime area."
American Honda, which combines the Acura and Honda brands, has seen market share decline from 9.7 percent to 9.1 percent through July 2014, according to Automotive News, and Autoblog's By the Numbers stats showed it posted falling sales in five of the seven months with data this year. Though, Mendel claims that was partially because the company focused on retail sales over fleets. The delays of the launches for the Honda Fit and Acura TLX likely didn't help either.

Nice car seeks Millennials | 2018 Acura TLX First Drive

The Acura TLX has a new face. And a rear diffuser. There's also a new A-Spec version with stiffer dampers, quicker steering, a snarlier engine, and snazzy red leather. Plus, every TLX has a revised touchscreen with Apple CarPlay and Android Auto. That pretty much sums up the refreshed 2018 Acura TLX entry-level luxury sedan, which didn't exactly drop into the market with a splash when it launched originally. Is all of that enough to make a difference? Probably not. After a day driving it around southern Indiana and the outskirts of Louisville, Kentucky, the TLX continues to be a perfectly nice car. It's refined and the cabin is well built, but otherwise the sedan is unremarkable. Ah, but there's more going on here than just a mid-cycle refresh. The 2018 TLX is Acura's latest effort following the revised MDX to recast itself as the maker of "precision-crafted performance" cars, inspired by both the NSX and the Precision Concept car shown at the 2016 Detroit Auto Show. It's a top-to-bottom, R&D-to-marketing attempt to better appeal to today's holy grail of customer: the Millennial. To do that, it goes beyond the cars themselves. New Acura commercials are a far cry from an authoritative James Spader rationally extolling the virtues of this and that. There are fast cuts and three images perpetually on screen. There's pulse-pumping music, bright colors, and words like "Geek + Chic" and "Super + Sonic." There are many not-exactly-subliminal images of the NSX. There's a red Power Ranger. It's hip! It's young! It's Millennial! It's also a marketing campaign that has apparently connected with its target generation – well, at least in focus group ratings. "If you look at what the other brands are doing, and particularly the luxury brands, it's so serious," said Jon Ikeda, Acura vice president and general manager. "We're trying to make it more inclusive, not intimidating, more youthful, more optimistic, and more fun. We want to have fun with it. "[The commercials] are trying to set the tone of Acura in general, to make people go, 'OK, I'm interested in that, I want to go drive that.' Now it's up to us to make sure the product reflects that." And Ikeda is actually in a position to make that happen. He's not a business guy or a Mad Men marketing sort – he's moved upstairs after spending decades in design, a tenure that included penning the third-generation TL, the best-selling Acura model of all time and one of the best-looking.

Weekly Recap For 5.27.16 | Autoblog Minute

Senior Editor Greg Migliore recaps the week in automotive news for 5.27.16. Acura Lincoln Autoblog Minute Videos Original Video Lincoln Zephyr