[Kelsic]

After seeing numerous ads for several other car makers offering 0% APR I am wondering when or if Honda will follow suit. Heck, even all of our Toyota dealers around here are offering 0% APR. Has anyone heard any news or rumors of Honda offering 0% APR. Is this something Honda never has done, and never will do?

 

[Maugham]

With wait lists as long as 3-4 months, why would Honda cut their profit on the Ody by offering any more sales incentives? If the recession gets much worse, things could change, but for now Honda is selling too many Odys for them to want to increase demand even more.

Regards,

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Maugham

"I plan to live forever. So far, so good"
'02 RP EXL
'85 Prelude
'01 Ninja folding aluminum scooter
'00 New Balance Model 658 Shoes w/ Green grass stains and '01 White Laces

 

[adam1991]

I saw an article in our local paper about 10 days ago saying specifically that Honda has no plans on doing anything like this, as they don't feel they need to. For any of their vehicles.

 

[tomhan]

People are still standing in lines so for the short term, rebates, low interest, and similar incentives are not likely. However, Honda Odyssey sales are 16% lower than this time last year. Maybe it will happen within the next year or so since the US plant is about to go into full swing.

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See my Pics

Tom
2002 RP EXL-RES

 

[odycadmus]

I think if Honda offers 0%, it will exclude Odyssey. Toyota doesn't offer 0% on all its models.

 

[HK_dude]

Honda's 3rd quarter earnings was up 45%. Guess you wouldn't see any dealer incentives any time soon

 

[darelldd]

I'm amazed the Honda wastes money advertising the Ody. How much longer do they want the line of customers?

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-= Darell =-
2001 Civic EX (ULEV)- currently the BIG car.
1997 EV1 (ZEV) in process - "This is NOT your father's golf cart"

 

[Maugham]

<font face="Verdana, Arial" size="2">Originally posted by tomhan:
...Honda Odyssey sales are 16% lower than this time last year. Maybe it will happen within the next year or so since the US plant is about to go into full swing.</font>

<a href="http://www.honda2001.com/news/attachments.html?y=2001&r=682">Ody September sales figures</a> are only 12.6% lower than Sept. 2001, and YTD sales are off by only 2.7%.

How do Ody sales compare to the competition? <a href="http://biz.yahoo.com/prnews/011002/detu022_1.html">Daimler Chrysler minivans</a> were down 41% for the month, and 18% for the year! That's a huge difference when compared to Ody sales. This shows that the Ody continues to gain market share relative to DC.

I don't take September sales as indicative. Many people delayed buying big-ticket items for the several weeks following 9/11. If nothing else, the supply-chain was slowed down, so even if someone ordered an Ody, it might have been delayed temporarily several days due to parts or border issues. Add to that the fact that there was one less selling day in September than last year, and the differences are not significant.

IMHO, the opening of the US plant will not alter the supply/demand ration enough to lead to sales incentives of the type we see for Ford, GM, and DC.

Regards,

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Maugham

"I plan to live forever. So far, so good"
'02 RP EXL
'85 Prelude
'01 Ninja folding aluminum scooter
'00 New Balance Model 658 Shoes w/ Green grass stains and '01 White Laces

[This message has been edited by Maugham (edited 10-31-2001).]

 

[tomhan]

I noticed something quite unusual today.

I had to stop by my dealer to pick up my 02 registration paperwork and there were 3 new RRP-EX, 1 new MB EX, 1 new GG LX, 2 used GG LX, and 1 used SS EX all of which were unsold. For the past two years you could not even see an Ody on their lot unless you happen to be around when one was being unloaded from the truck or delivered to a customer. The sales rep said he was surprised that none of these were sold yet. He did say that he had a few potential customers but none confirmed. Things are definitely beginning to change in the demand/supply ratio. I'm sure the current state of the economy is having a big impact here. If this continues, we may be seeing price drops on the ody sooner than we thought possible before.

------------------

See my Pics

Tom
2002 RP EXL-RES

 

[Maugham]

<font face="Verdana, Arial" size="2">Originally posted by tomhan:
I noticed something quite unusual today.

I had to stop by my dealer to pick up my 02 registration paperwork and there were 3 new RRP-EX, 1 new MB EX, 1 new GG LX, 2 used GG LX, and 1 used SS EX all of which were unsold. For the past two years you could not even see an Ody on their lot unless you happen to be around when one was being unloaded from the truck or delivered to a customer. The sales rep said he was surprised that none of these were sold yet. He did say that he had a few potential customers but none confirmed. Things are definitely beginning to change in the demand/supply ratio. I'm sure the current state of the economy is having a big impact here. If this continues, we may be seeing price drops on the ody sooner than we thought possible before.

</font>

People are finally admitting that we are in a <font color=blue>recession</font>. However, the Ody has a long way to go before we see price cuts and incentives. With 3-4 month wait times now, even if nobody bought an Ody for 3 months, that would let supply catch up with demand. I'm probably being too simplistic about this, but I just think that top selling products will be the least hit by the <font color=blue>recession</font>.

Regards,

------------------
Maugham

"I plan to live forever. So far, so good"
'02 RP EXL
'85 Prelude
'01 Ninja folding aluminum scooter
'00 New Balance Model 658 Shoes w/ Green grass stains and '01 White Laces

[This message has been edited by Maugham (edited 11-01-2001).]

 

[tomhan]

You could be rite Maugham. I was just so surprised to see all those unsold odys a this particular dealership. It's highly unusual.

Tom