Honda Civic Prices Paid and Buying Experience

Replying to: jimb519 (Jan 06, 2009 6:11 am)

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Replying to: jimb519 (Jan 06, 2009 6:11 am)

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Replying to: tupuc (Jan 06, 2009 7:32 am)

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Replying to: mikefm58 (Jan 06, 2009 11:08 am)

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Replying to: isellhondas (Jan 06, 2009 12:09 pm)

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Replying to: kyfdx (Jan 06, 2009 1:02 pm)

Replying to: janice47 (Jan 06, 2009 11:28 am)

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Replying to: IntelliShopper (Jan 06, 2009 1:37 pm)

Actually your figure is close but off slightly. The figure is -34.0% from the previous December. However total sales from 2007 to 2008 are down just 6.7%. In fact the numbers are as follows:
 
"Honda Division's 2008 annual sales of 1,284,261 decreased 6.7 percent compared to 2007. Honda Division's December monthly sales of 75,405 represent a decrease of 34.0 percent compared to 2007. Annual total car sales of 794,421 for the Honda Division increased 1.0 percent and set a record for the fourth consecutive year. The division's truck sales decreased by 16.9 percent to 489,840." emphasis added
 
source: http://www.hondanews.com/categories/1097/releases/4898
 
So my guess is with annual sales down less then 10% there is no reason for Honda to rush out and change the way they have been conducting retail business. They have already addressed the stacking inventory by reducing production across the board - some models as much as 40% from last year. Really what Honda is going to do is scale back production this year and reduce the number of vehicles on dealers lots. It may take 60 - 90 days but this spring I would expect dealers again to almost run out of some of the more popular models Honda offers.
 
Once this happens, it will then become a sellers market

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Replying to: mplshondadlr (Jan 06, 2009 3:48 pm)

If all other major car makers follow suit, resulting in an overall shortage of new cars, and also if car buyers don't continue flocking to used cars as they have been of late, yes, that could become more of a seller's market. But I wouldn't bet the farm on it if I were you.