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

India-China Ties

REUTERS SHOWCASE

Scotland Referendum

Scotland Referendum

Scots vote in record numbers, await independence verdict.  Full Article 

India-US Diplomacy

India-US Diplomacy

Obama to nominate Indian-American Richard Verma as India ambassador - congressional source.  Full Article 

GMR in Nepal

GMR in Nepal

Nepal clears India’s GMR plan for $1.4 bln hydroelectric plant.  Full Article 

LIC on Markets

LIC on Markets

LIC chairman bullish on Indian markets  Full Article 

India Rains

India Rains

Monsoon rains weaken as late retreat looms.  Full Article 

Ellison Quits

Ellison Quits

Oracle's Ellison steps aside, co-CEOs Catz and Hurd take over.  Full Article 

Infosys-Huawei

Infosys-Huawei

Infosys partners with China's Huawei for cloud-based services  Full Article 

Gold Outlook

Gold Outlook

Gold imports seen up, premiums likely to double on festive buying  Full Article 

Trade Dispute

Trade Dispute

U.S. to press India on trade row during Modi's Washington visit  Full Article 

Reuters India Mobile

Reuters India Mobile

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