Honda July Sales Down 9.2%; Cars Set RecordS

Honda has posted a 9.2% total sales decline for July 2008, adjusted for daily selling rate. While the Japanese manufacturer saw car sales set a record, rising 6.7%, light-truck sales droped 27.8%, dragging down the company's total. The subcompact Honda Fit and the Civic Hybrid broke previous sales records, rising 78.5% and 27.4%, respectively. Full release after the jump.

Fit sets another all-time sales record; Honda car sales rise 6.7% for July record

TORRANCE, Calif., Aug. 1 /PRNewswire/ — American Honda Motor Co., Inc. posted July total vehicle sales of 138,744, a daily-selling-rate basis* decline of 9.2 percent compared to July 2007 results.

Honda Division posted July sales of 125,916, a decline of 8.2 percent versus July 2007. The Fit sold an all-time record of 12,266, up 78.5 percent. Civic Hybrid broke its previous July record, set in 2006, with sales up 27.4 percent to 3,440, while the Accord increased 2.8 percent to 41,382.

"The uncertainties in the market have been quite profound in the past few weeks," said Dick Colliver, executive vice president of sales for American Honda. "We are adjusting our production to meet the rapidly changing needs of buyers and are confident these changes will provide the needed inventory as we move forward."

Honda total car sales of 82,976 increased by 6.7 percent to achieve a new July record. Honda light truck sales saw a decrease of 27.8 percent to 42,940.

The Acura Division posted sales of 12,828, a decrease of 17.7 percent* compared to July 2007. The division's all-new TSX continues to perform well with July sales up 15.9 percent to 3,474.

*The daily selling rate is calculated with 26 days for July 2008 and
24 days for 2007. All percentages reflect the daily selling rate.


[American Honda]