Honda Motor Co. Ltd (7267.T) on Friday announces its latest deal, one of the four limo-sized limousines to be organized as Asian manufacturers does not gain market share, while Detroit manufacturers focus on the SUV.
A new contract, such as the new Camry Toyota Motor Corp. (7203.T), launched this month, is expected to provide significant improvements in fuel, technology, style and safety, according to American Honda dealers.
Honda refused to discuss the details before the events in Detroit on Friday
The deal and Camry are pillars of American companies from their manufacturers, each selling more than 300,000 vehicles a year. In the coming months, it is expected that Nissan Motor Co Ltd (7201.T) will launch the new Altima mid-limo and Hyundai Motor Co. <005380.KS to launch a new Sonata medium-sized car. Both are popular brands that are highly promoted.
“There is no new news on the side of a mid-limo for three years, and we think it’s a great opportunity to focus attention on the segment,” said Toyota’s director of marketing for North America, Jack Hollis.
Over the years, passenger car sales in the United States were 11.4% and sales of the mid-limo fell 14.2%. However, Americans bought 7.1 million in 2016. General Motors Limousine Co (GM.N) and Ford Motor Co (FN) manufacturing limousine cutter and Fiat Chrysler Automobiles NV (FCHA.MI) leaves segment and Honda Asian rivals could increase sales With updated models, said retailers.
“They can engage in other brands, which is what happens traditionally when a new product is launched,” said Pete Delong champs, vice president of the relationship with manufacturers in Group 1 Automotive Inc. (GPI. N), the third largest US car dealership group.
“Do not find a place among consumers”
The deal was the year of the Honda Model Sales in the US. Last year, US sales of the compact CR-V Honda car program were overshadowed by the biggest deal that Honda had expanded its production capacities in the first place.
Sales of passenger cars have fallen steadily since 2012, when they accounted for 51.2% of the US market. The limousine dropped to 38.1 percent in the first half of this year. IHS Markit said the loyalty of American consumers to SUVs and light trucks increased from 2012 but rejected the limo. (For graph see: tmsnrt.rs/2tNZJ9J)
The new Accord and Camry “can damage the fall,” said Tom Libby, IHS Markit. “I do not think it will cause a sudden change.”
Contract improvements should increase sales for Galpin Honda in San Fernando, Calif., Said executive director Ed Hartoonian. About the distribution of sales of about 500 deals and civic education, combined, monthly and Accord sales increased by almost 13 percent this year, he said.