Source: Gasgoo Author: Ramy
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According to Bloomberg, Honda Motor Co. expects to sell 1.4 million vehicles in the United States this year, thanks to high demand for its hybrid and gasoline-powered vehicles in the U.S. market. This will be the first time in three years that Honda’s annual sales have reached this level.
Mamadou Diallo, head of sales for Honda’s U.S. subsidiary, said Honda is targeting a 10% sales growth in 2024, including 1.3 million Honda brand vehicles and about 150,000 Acura vehicles.
Speaking to the media, Diallo said, “We ended 2023 on a very strong note, and we will continue that momentum through 2024.” Diallo also added that the company expects to overcome unfavourable factors such as rising interest rates and “expects the economy to continue to grow, but at a more moderate rate.”
According to Diallo, Honda’s growth will be more normalised this year and production levels have fully recovered to meet market demand. But Diallo also noted that the company plans to keep “inventory and daily supply balanced” to avoid flooding the market with products.
Honda Prologue ; Image source: Honda
This year, Honda will also begin delivering two new pure electric vehicles, the Honda Prologue and Acura ZDX. Both models are produced at a GM plant, but the companies did not specify which plant. GM’s electric vehicle business has also faced a series of production and software problems that have forced it to delay vehicle deliveries. Diallo said, “We are confident that we will achieve our goals with these new products. We believe that some of the software problems will be solved.”
Last year, Honda’s U.S. sales soared 33% year-on-year to 1.3 million vehicles, a quarter of which came from hybrid models, including its best-selling CR-V compact SUV and a gas-electric hybrid version of the Accord midsize sedan. . Prior to this, Honda’s sales in the United States experienced a downturn in 2022, with annual sales falling below 1 million vehicles for the first time in the previous 25 years. A Honda spokesperson noted that the drop in sales at the time was due to supply chain and logistics issues facing the entire industry.
