Strong May sales for Honda are the result of both high demand and rising supply

May marked Honda’s third consecutive monthly increase after a stretch of declines. Which was prompted by severe inventory shortages that resulted from tight microchip supplies and shipping issues.  

America Honda reported the company ended the month of May with 34,000 vehicles on the ground, up from 12,000 vehicles a year prior. They also reported:

• Gains across the lineup. The brands’ sales in May were up 105,740, or more than 53%, month over month.
• Honda electrified cars set a new record with sales of over 32,000 monthly units.
• The CR-V hybrid sales set a record, with 20,986 units sold, accounting for nearly 62% of the model mix.
• Sales of the brand-new Accord were 20,007 and are now over 55% of hybrids. Reaching 11,100 units or passing 10,000 units for the second consecutive month, and overall Accord sales are up more than 80% from May 2022.
• The Honda light truck range posted solid sales in May: The Ridgeline had 4,931 units, the best sales ever. In addition, the all-new Pilot had 10,439 units, and the HR-V had 9,300 units and remains in high demand.
• Honda’s passenger car sales continue to grow, hitting 36,117 in total for Civic and Accord sales.
• Honda brand turn rates top 70% – overcoming single-digit supply for core models and helping Civic to over 16,000 units despite limited inventory

Meanwhile, the Acura Brand sales in May also revealed:

• Acura reached 13,700 units sold in May, an increase of more than 30% from the previous year’s numbers.
• All-new Integra maintains sales momentum (2,806) and leads the premium gateway segment with the debut of this month’s high-performance Type S model.
• It is the first time since August 2021 that TLX exceeds 2,100 units.
• Acura SUV sales have surpassed 8,000 units in a single month thanks to the MDX, which is the best-selling model in the portfolio.

According to Mamadou Diallo, senior vice president of Auto Sales at American Honda, “The strongest product range in the history of the Honda and Acura brands is being matched by a greater supply, which is wonderful to watch.” He added, “Our dealers are doing a terrific job of selling into inventories to satisfy the pent-up demand from our Honda and Acura consumers because our production associates are committed to completing the product pipeline.”