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Honda exec says US market near capacity, could hurt subprime buyers

Is there a point in the US auto industry where companies should start considering the welfare of their customers ahead of selling more cars? American Honda Executive Vice President of Sales John Mendel thinks that level exists, and we may be getting very close to it.
According to Automotive News, Mendel believes that finding more customers in the market could require pursuing subprime buyers and offering longer-term loans. However, he refuses to use those tactics. While selling models this way can improve things briefly, the strategies hurt resale prices and lower vehicle profits over time. The company won't do "stupid things in the short-term that damage the person who bought yesterday," he said to Automotive News. "It's a very, very short-term tactic especially in the subprime area."
American Honda, which combines the Acura and Honda brands, has seen market share decline from 9.7 percent to 9.1 percent through July 2014, according to Automotive News, and Autoblog's By the Numbers stats showed it posted falling sales in five of the seven months with data this year. Though, Mendel claims that was partially because the company focused on retail sales over fleets. The delays of the launches for the Honda Fit and Acura TLX likely didn't help either.

Reliving the Acura NSX debut, 25 years later

The Acura NSX might be one of the most important Japanese cars ever created. The Land of the Rising Sun had already established that it could make very competent performance vehicles when the NSX debuted in 1989, but Honda's two-seater was the first one that looked to the world like a true contender against Ferrari and Porsche, thanks to its cutting-edge technology. The Acura had an all-aluminum monocoque chassis, a beautifully low-slung body and a quick-revving V6 with an 8,000-rpm redline. This quintessential Japanese sports coupe celebrates its 25th anniversary this year, and Autoweek recognizes it in a fantastic piece chronicling the model's US launch.
The story begins in February 1989 at the Chicago Motor Show where the car debuted. The day before the show opened, the concept still didn't have a name. The Japanese development team referred to it as New Sports, and the American Acura executives decided to add eXperimental to the end. The moniker NSX just stuck afterwards.
The article paints a fantastic portrait of the car and the company at the time. Honda had something to prove with the NSX. To succeed, the coupe had to be the best, and when the American press finally got a hold of it, they drowned it in accolades. Of course, Acura has a new American-built NSX on the way, and it has colossal legacy to live up to. This piece is definitely worth reading to understand why.

Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).