American Honda Offers Outlook on 2024 U.S. Automobile Business

American Honda provided an outlook on its U.S. automobile business for 2024 during a media briefing with Senior Vice President of Sales, Mamadou Diallo.

“In 2023, we were finally able to meet the pent-up demand for our products with both brands rebounding and American Honda finishing the year up over 30%. We projected a strong recovery, and we achieved that,” said Diallo. “This year we will continue to capitalize on hybrid models and light trucks as we begin sales of our first high volume BEV models. Along with a continued investment in our ICE products, we are anticipating increased annual sales for both Honda and Acura in 2024.”

2024 Automobile Sales

American Honda auto sales finished 2023 at 1.3M units in sales, up 33% year-over-year as production stabilized and logistics challenges eased.

Moving into 2024, the Honda brand is expected to realize sales of up to 1.3 million units and the Acura brand will aim for 150,000 units. This will mean a sales increase for American Honda ranging from 10-15% compared to 2023.

American Honda is entering 2024 with strong inventory of both cars and trucks, maintaining a strong position to continue the sales momentum into 2024.

The Honda CR-V hybrid was the best-selling hybrid vehicle in the U.S.—from any segment—in 2023. Sales volume exceeded expectations, reaching 197,317 for the year.

2024 Product Cadence

American Honda continues to execute a step-by-step smart electrification strategy with an increase in hybrid volume and the introduction of its first high volume electric vehicles.

“In 2024, we will initiate sales of three zero emissions vehicles that will help the company realize its goals of 100% zero emissions vehicle sales by 2040 and ultimately our goal of carbon neutrality by 2050,” said Diallo.

Acura

Acura will begin sales of the all-electric ZDX SUV in early 2024, with customers placing the transaction 100% online through an all-new omni-channel retail experience. Customers can begin placing orders for the ZDX starting in February.

The MDX SUV, the brand’s best-selling model, will receive significant enhancements including styling changes, the addition of Bang and Olufsen premium audio, a new technology interface featuring Google-built in and a more advanced AcuraWatch™ suite of driver assistive features. MDX also will trade its touchpad for a new touchscreen driver interface and a more usable center console.

The RDX will receive upgrades to enhance its appeal and functionality.

An all-new Acura crossover will debut later this year, positioned at the gateway of the lineup alongside the Integra.

Honda

Honda will begin sales of two zero emissions vehicles in 2024 – the all-new electric Prologue SUV and the CR-V Fuel Cell Vehicle (FCEV).

The Prologue will go on-sale in the coming months, initially focusing on sales in California and ZEV states along with BEV-friendly markets like Texas and Florida. A nationwide rollout will follow the initial allocation.

Based on Honda’s most popular model, the new CR-V FCEV also will mark North America’s first production vehicle to combine a plug-in feature with FCEV technology in one model. The Civic lineup will receive styling and feature enhancements for the 2025 model year, including the addition of a Civic hybrid for both the sedan and hatchback models.

Civic hybrid will comprise about 40% of the models’ sales when it launches this summer, increasing hybrid volume for the brand which already achieved record hybrid sales in 2023. The Odyssey will receive styling and technology enhancements to maintain its competitiveness in the minivan segment.

Electrification and Sustainability Updates

The company debuted its new global EV series called Honda 0 Series and two concept models, Saloon and Space-Hub at CES 2024. A production model based on the Saloon concept will be introduced in the U.S. in 2026. As part of the new Honda EV Hub in Ohio, manufacturing lines have already started to consolidate in preparation for EV production.