According to dealers, buyers are not choosing the 2018 Accord over its longtime rival, the Camry, because of unappealing lease deals.
Despite Honda putting together a formidable package in the 2018 Accord, dealers across the United States are having trouble selling the auto, and not just because of the struggling midsize saloon segment. Right now you can lease a 2018 Accord LX for $249 a month for 36 months with a $3,199 drive off.
Automotive News reports that while Honda dealers love the new Accord, they're just having a hard time selling it.
"Where lease is heavy, like Florida, New York, Ohio and California, that's where we're getting hurt", stated Rick Case, CEO of Rick Case Automotive Group, which has Honda stores near Miami and in suburban Cleveland.
Case continued that Accord sales are only at about half where they should be and that Honda is hoping that the Accord's accolades will help sell the midsize sedan, instead of traditional incentives. "Then I'm going to take a good long look at it at the end of March and April", added a Midwest dealer who declined to be named. Lighter than its predecessor, the 2018 Accord Hybrid comes as standard with a continously variable transmission. Last-generation Accords were also less expensive, meaning it costs more to lease a new Accord than it did back in 2015.
But while several dealers said they thought Honda needed to find a way to make Accord leases more competitive, one dealer disagreed.
"We continue to work collaboratively with our dealer partners and appreciate our ongoing dialogue with them to ensure the overall value proposition with each of our products is competitive in the marketplace". "I get if the vehicle needs incentives because of a deficiency in the auto".