American Honda CEO unsatisfied with Accord sales

NEW YORK Thu Apr 5, 2012 4:39am IST

The Honda Accord plug in hybrid concept car is displayed on the final press preview day for the North American International Auto Show in Detroit, Michigan, January 10, 2012. REUTERS/Rebecca Cook/Files

The Honda Accord plug in hybrid concept car is displayed on the final press preview day for the North American International Auto Show in Detroit, Michigan, January 10, 2012.

Credit: Reuters/Rebecca Cook/Files

Related Topics

Stocks

   

NEW YORK (Reuters) - March sales of the flagship Honda Accord were "not satisfactory," but the company is working through the inventory problems that led to an unexpected slump, executives said at the New York Auto Show on Wednesday.

U.S. consumers bought 26,771 Accords last month, down from 31,533 vehicles a year ago. Total group sales were down 7.7 percent year-over-year to 115,833, American Honda said earlier this week.

"We are not satisfied with that," said American Honda President and Chief Executive Tetsuo Iwamura, noting the Accord was outsold by both the Toyota Camry and the Nissan Altima last month.

The company is still working through problems stemming from the March 2011 earthquake and tsunami in Japan, which disrupted production.

"We're still suffering the inventory issues associated with the disaster," marketing executive Mike Accavitti said.

Iwamura said total inventories were improving quite well but distribution of vehicles among dealerships was "kind of a problem at this moment."

He said the Accord sales slump was caused by a shortage of some popular models but that a new model in the fall would help improve Accord sales.

(Reporting By Nick Zieminski in New York, editing by M.D. Golan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage