American Honda (NYSE:HMC) kicked off the new year with a mixed bag of sales results in January 2024.
While overall sales grew by a promising 10.3% Y/Y to 93,210 units, momentum slowed down compared to December 2023, with a 15.7% sequential decline.
Truck sales were the bright spot, growing by a healthy 16.3% Y/Y, while car sales remained relatively flat.
The Honda brand itself mirrored this trend, boasting a 12.7% Y/Y increase, driven by a 19.4% surge in truck sales and a more modest 1.5% rise in car sales.
However, Acura, Honda’s luxury division, hit a roadblock, experiencing a 9% Y/Y sales decline. This drop was primarily due to a 13.7% decrease in car sales, while truck sales also dipped by 6.6%.
Despite the Acura stumble, some Honda models shone brightly. The ever-popular CR-V saw its sales skyrocket by 31.6% Y/Y, followed by the HR-V with an impressive 49% Y/Y surge. The Pilot also joined the celebration with a 10.6% Y/Y increase.
The combined sales of the Accord and Civic crossed the 28,000-unit mark, with the Civic leading the charge with a remarkable 23.6% Y/Y growth.
Honda also revved up its electrification efforts, setting a new January record for sales of electrified vehicles, reaching 17,004 units.
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