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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.

Acura NSX #001 sells for $1.2 million

When the new Acura NSX hits showrooms in the Spring, it will cost at least $156,000 in "base" spec, or as much as $205k fully loaded. But at the Barrett-Jackson auction in Scottsdale Saturday, one notable buyer paid a record $1.2 million for the privilege of ordering the very first one. That works out to a good six or seven times the list price, but fortunately it's all going to a good cause. The winning bid for the very first production example of the new Acura NSX was placed by none other than Rick Hendrick, a man best known for his NASCAR team but also for other projects like the modified Jeeps his company is pitching to the US Army. His $1.2 million will allow him to order the first one off the line, to his specifications. Proceeds are earmarked towards the Pediatric Brain Tumor Foundation and Camp Southern Ground in Georgia, which focuses on at-risk kids, children of military families, and those with neurobehavioral disorders. Hendrick's winning bid marks the highest price that Barrett-Jackson has ever recorded for a VIN 001 vehicle. And make no mistake about it: it has handled a lot of them. This weekend alone also saw the first new Chevy COPO Camaro raise $300,000 for United Way, and Jay Leno's 2006 Ford F-150 Harley-Davidson edition (also the first of its kind) bring in $200k for the National Multiple Sclerosis Society. Related Video: FIRST 2017 ACURA NSX SCORES RECORD AUCTION PRICE OF $1.2 MILLION AT BARRETT-JACKSON - Final hammer price of $1.2 million sets record auction price for a designated VIN 001 vehicle - All proceeds go to the Pediatric Brain Tumor Foundation and Camp Southern Ground Jan 29, 2016 - SCOTTSDALE, Ariz. -- At the auctioneer's final call, the next-generation 2017 Acura NSX supercar tonight smashed the record for a vehicle auction at Barrett-Jackson for the highest-selling designated vehicle identification number (VIN) 001 with the final hammer price set at $1.2 million. Winning bidder Rick Hendrick, owner of Hendrick Motorsports and founder of Hendrick Automotive Group, has earned the right to custom order the first production model of Acura's highly anticipated NSX, which comes to market this spring. All proceeds of the auction will go to the Pediatric Brain Tumor Foundation, based in North Carolina, and Camp Southern Ground in Georgia, the passion project of Grammy® Award-winning music artist Zac Brown.

Acura teases 17 seconds of the NSX on Vine and Instagram

Acura won't roll out the prototype NSX until August 4 when it shows up at Mid-Ohio Raceway for the Honda 200 IndyCar race, and the genuine production car isn't scheduled to arrive until 2015. Acura will, though, make the car a Vine and Instagram video star with snippets of the mid-engined roarer lapping the test track in both the dry and the wet.
After unleashing a six-second loop on Twitter's video service yesterday, it gave fans a bit more by uploading a nine-second clip on Instagram of the coupe throwing up rooster tails and sliding around bends. Best of all is the sound - it's like no Acura you've ever heard outside of a race track. You can check out both videos below.