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Honda thumbs nose at fleet sales, claims it leads in key vehicle segments

Fleet sales are a way of life in the automotive industry. There are many non-retail customers that need vehicles, but going too far can reduce brand image and vehicle resale value. While some of its competitors have fleet sale that account for up to 20 or 30 of overall sales, Honda is bragging that it has the lowest fleet sales of all mainstream automakers for the first five months of 2013.
After calculating new-car registration data from R.L. Polk, Honda says that just two percent of its sales through went to fleet customers compared to an industry average of 19 percent. Even though this means Honda leaves plenty of sales on the table each month, it also claims to have the highest resale value and lowest cost of ownership among its competitors. In terms of retail sales, Honda says that the Civic, Accord, CR-V and Odyssey all lead their respective segments, and it breaks down/brags about its retail sales success in the press release, which is posted below.

Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

Honda promises all-new Ridgeline within two years

Despite an aging design and low sales, Honda has remained committed to its Ridgeline pickup truck. Now, in its first official confirmation of a next-gen Ridgeline, Honda has released a teaser sketch (click to enlarge) of the new truck and promised a debut within two years, as previously reported.
The sketch shows the direction that Honda is planning for its new truck, which appears to ditch the single-piece body in favor of a more conventional pickup truck design. Even with the new design, it's not clear if Honda will move away from the Ridgeline's car-based platform shared with the Odyssey, Pilot and Accord. Sales of the Ridgeline dipped to below 10,000 units in 2011 but have increased steadily over the last two years (including 29 percent so far in 2013) with slightly more than 16,000 units on the year.
As for the current Ridgeline, Honda will wind down production at the Lincoln, AL assembly plant sometime during the middle of next year. The press release for the announcement is posted below.