Honda is one of the leading automakers in the US market, offering a wide range of vehicles that appeal to different customers. In November 2023, Honda posted robust sales results that showed strong demand for its products and high residual value for its brand.
Honda's Sales Performance in November 2023
According to the official press release, American Honda sold 121,114 vehicles in November, a 9.2% increase compared to the same month last year. Honda Division accounted for 109,899 units, up 9.8%, while Acura Division sold 11,215 units, up 3.6%.
Some of the best-selling models for Honda in November were the Honda Civic, the Honda CR-V, the Honda Accord, and the Honda Pilot. The Civic sedan and hatchback sold 26,068 units, up 16.4%, while the CR-V crossover sold 25,571 units, up 7.6%. The Honda Accord sedan sold 19,801 units, up 8.8%, and the Pilot SUV sold 10,610 units, up 13.2%.
Honda also saw strong sales for its electrified vehicles, which include hybrids, plug-in hybrids, and battery-electric vehicles. Honda sold 9,507 electrified vehicles in November, up 29.5%, representing 8.8% of its total sales. Some popular electrified models were the Honda Insight hybrid sedan, the Honda Clarity plug-in hybrid sedan, and the new Honda Civic hybrid sedan.
Acura, Honda's luxury brand, also performed well in November, with the MDX SUV and the Acura TLX sedan leading the sales. The MDX sold 4,903 units, up 6.8%, while the TLX sold 2,635 units, up 4.9%. Acura also sold 1,003 units of the NSX supercar, up 33.3%.
Honda's Market Share and Growth in the US
Honda's impressive sales results in November reflect its ability to meet the needs and preferences of US customers, who are looking for reliable, efficient, and versatile vehicles. Honda also benefits from its reputation for high quality and durability, which translates into high residual value for its vehicles.
According to the data from GoodCarBadCar, Honda had a market share of 8.4% in the US in November, up from 8.1% in October and 7.9% in September. Honda ranked fourth among the automakers in the US, behind General Motors, Toyota, and Ford. Honda also had a year-to-date market share of 8.2%, up from 8.1% in 2022.
Honda's growth rate in November was 9.2%, higher than the industry average of 7.8%. Honda also outperformed some of its main competitors, such as Toyota (8.4%), Hyundai (8.1%), and Nissan (7.7%). Honda's year-to-date growth rate was 7.5%, also higher than the industry average of 6.8%.