Nothing Is Stopping Honda’s Growth so Far in 2023
It’s that halfway point in the year when automakers start sharing the previous six months’ worth of sales data. Honda sales – from such a well-established brand – saw incredible growth in the first part of this year. And we’re talking about the kind of growth rates you tend to see with new manufacturers, not legacy brands.
So, what’s driving Honda’s success and skyrocketing sales in 2023? And maybe the bigger question is can the Japanese automaker maintain this rapid growth through the end of the year? A closer look at the latest sales analysis hints that nothing’s stopping Honda from taking its top place on the car sales leaderboard.
Honda’s sales growth is incredible so far this year
Most automakers, including Honda, will focus on internal growth, comparing month-over-month and year-over-year sales data. GoodCarBadCar has assembled the most recent data for various auto brands and not only showcases these internal comparisons but also highlights where these carmakers rank against each other.
Honda’s growth is monumental, especially with the 53% hike in sales this July when compared to July 2022. And the company’s year-to-date total number of vehicles sold last year was 518,509. Honda has already surpassed that year-end total midway through 2023, with 657,590 units sold as of July. Those are the kind of growth rates you’d expect from a newcomer to the market.
Lineup innovations are driving Honda’s success
In the Acura News press release from January of this year, capturing goals and objectives for all the badges under the Honda umbrella, the Honda team started 2023 with big plans. Honda ended 2022 on a high note, launching its all-new Pilot and Pilot TrailSport to an SUV-hungry market. Honda also welcomed all-new models to the HR-V, CR-V, and CR-V Hybrid lineup.
Innovating in 2023, Honda holds its competitive edge within its truck and large SUV lineup, making improvements to both the Passport and the 2024 Ridgeline that take rugged capabilities to a new level.
Even more promising is the pre-sales launch for the Honda Prologue, Honda’s first electric SUV. The Prologue is slated for delivery in early 2024. These innovations and commitments to growth are clearly working for Honda’s sales figures.
Can Honda sales keep this upward momentum?
With the growth in 2023 that’s far outpacing the likes of Ford (6.5%,) Hyundai (9.72%,) Mazda (30.93%,) and Toyota (11.7%,) the question becomes, can Honda keep it up? Honda thinks so and has massive plans for continued growth.
Hybrid demand for the CR-V and the Accord will likely result in a near-triple increase in vehicle production. Honda announced plans for a $3.5 billion EV battery plant in Ohio as part of a joint venture. And the automaker is investing another $700 million to retool its three existing auto plants.
Honda is committed to evolving to an all-electric lineup of vehicles. To do that, Honda intends to increase hybrid sales to represent 50% of its earnings. While the Honda CR-V and Honda Accord hybrid models might not make that a reality, the upcoming 2024 Civic Hybrid, as a hatchback or a sedan, might be the hybrid sales push Honda needs to hit that goal.
Add in the excitement of the new Sony and Honda car brand showcased at this year’s CES 2023 in Las Vegas; it’s easy to see that the automaker is thinking forward. Even if you’re not all that interested yet in Afeela, there’s plenty of excitement in Honda’s existing and traditional offerings. And it’s that kind of excitement, along with a continued commitment to innovating cars, that makes Honda’s future and growth potential very promising.