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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.

Check out these cool displays from Honda's new Ohio museum

Honda undoubtedly has its roots in Japan, but when it comes to its US operations, the automaker holds some very deep ties to the Buckeye State too. The company has been building cars at its Marysville, OH, campus since 1982 and over 10 million Accords have left there since then. The latest addition there is something that might actually bring brand fans to the site, though. The newly opened Honda Heritage Center museum is part of the recently constructed 160,000-square-foot Technical Development Center. The place offers a chance to take a tour of the company's history. While it's not the lavish, multi-story affair from Japan, the site still shows off some quite cool vintage products. The exhibits include an area dedicated to Honda's racing efforts, examples of its many motorcycles and several of its early models, including a '70s Civic. A HondaJet and displays of some of the company's engines are there, as well. The Heritage Center will open to the public in January, and other portions of the Technical Development Center will be responsible for training Honda employees. The Marysville campus will keep growing in the near future too with production of the upcoming Acura NSX taking place at a new facility nearby there. Check out the gallery for a glimpse of just some of what Honda has on display at its new museum. Honda Heritage Center: A tribute to the past, a focus on the future New Museum in Ohio Showcases Honda History in North America Dec 18, 2014 - MARYSVILLE, Ohio The Honda Heritage Center in Marysville officially opened its doors today, offering the world a glimpse of the innovative history and growth the company has achieved in Ohio and North America during the past 55 years. "The new Honda Heritage Center is a collection of Honda dreams in the form of products that are responsible for millions of customer relationships," said Takuji Yamada, chief operating officer of Honda's North American regional operations. "The great variety of products on display – including powersports, power equipment and automobiles, as well as aviation and robotics – together with the major milestones highlighted, tell the stories of Honda associates in Ohio and from throughout North America." Ohio Gov. John Kasich joined Honda officials and state and local community leaders to celebrate the opening of the new $35 million, 160,000-square-foot facility, which includes a museum, Technical Development Center and office space for Honda North America.

GM, Ford, Honda winners in 'Car Wars' study as industry growth continues

General Motors' plans to aggressively refresh its product lineup will pay off in the next four years with strong market share and sales, according to an influential report released Tuesday. Ford, Honda, and FCA are all poised to show similar gains as the auto industry is expected to remain healthy through the rest of the decade. The Bank of America Merrill Lynch study, called Car Wars, analyzes automakers' future product plans for the next four model years. By 2020, 88 percent of GM's sales will come from newly launched products, which puts it slightly ahead of Ford's 86-percent estimate. Honda (85 percent) and FCA (84 percent) follow. The industry average is 81 percent. Toyota checks in just below the industry average at 79 percent, with Nissan trailing at 76 percent. Car Wars' premise is: automakers that continually launch new products are in a better position to grow sales and market share, while companies that roll out lightly updated models are vulnerable to shifting consumer tastes. Though Detroit and Honda grade out well in the study, many major automakers are clumped together, which means large market-share swings are less likely in the coming years. Bank of America Merrill Lynch predicts the industry will top out with 20 million sales in 2018 and then taper off, perhaps as much as 30 percent by 2026. Not surprisingly, trucks, sport utility vehicles and crossovers will be the key battlefield in the next few years, Car Wars says. FCA will launch a critical salvo in 2018 with a new Ram 1500, followed by new generations of the Chevy Silverado and GMC Sierra in 2019, and then Ford's F-150 for 2020, according to the study. Bank of America Merrill Lynch analyst John Murphy said the GM trucks could be pulled ahead even earlier to 2018, prompting Ford to respond. "This focus on crossovers and trucks is a great thing for the industry," Murphy said. Cars Wars looks at Korean (76 percent replacement rate) and European companies more vaguely (70 percent), but argues their slower product cadence and lineups with fewer trucks puts them in weaker positions than their competitors through 2020. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2016 Chevrolet Silverado View 11 Photos Image Credit: Chevrolet Earnings/Financials Chrysler Fiat Ford GM Honda Nissan Toyota study FCA