Civic (Honda)

Announced on April 23, 2024, PT Honda Prospect Motor Indonesia recorded total retail sales of 10,706 units in March 2024 (down 26.7% from 14,614 units recorded in March 2023). Sales in March 2024 grew 18.7% MoM, supported by increased consumer demand during the Eid period, especially for SUV models.

Honda's SUV models recorded retail sales of 5,531 units in March. Honda BR-V sold 1,594 units. The Honda HR-V sold 1,862 units, the Honda WR-V sold 1,524 units, and the Honda CR-V sold 551 units.

Meanwhile, the Honda Brio still maintains its position as the most popular Honda model with sales reaching 4,495 units. The Honda City Hatchback RS sold 283 units, the Civic RS sold 170 units, the Mobilio sold 146 units, the Accord sold 62 units, the Honda City sold 15 units, and the Civic Type R sold 4 units.

PT HPM said it continued to monitor the current condition of the automotive market which is still unstable, influenced by global and national political economic conditions. Therefore, the company would be able to adjust strategies and present products that suit consumer needs.

According to Gaikindo data, Honda’s retail sales in Indonesia in the first 3 months of 2024 dropped 21.1% YoY to reach 29,744 units. 

(From Honda Indonesia press release on April 23, 2024 / on April 18, 2023 and Gaikindo's March 2024 data)

Honda Motor Co. and Canada are reported to be on the verge of an agreement that would result in electric vehicles and their components being built in Ontario, according to people familiar with the matter.

The deal, expected to be announced within a week, involves Honda building new facilities to process cathode active materials, build batteries, and assemble BEVs, with the Canadian government subsidizing a portion of the cost.

In Honda’s case, the clean technology manufacturing ITC plan provides a refundable tax credit for 30% of equipment costs. 

Finance Minister Chrystia Freeland’s budget last week also introduced a new 10% tax credit that would apply to the cost of buildings used for electric vehicle manufacturing if a company has a significant portion of its EV supply chain located in Canada.

Honda currently has a manufacturing complex in Alliston, Ontario, where it builds Honda CR-V and Civic models.

(multiple sources on April 22, 2024)

Note: Some figures were updated on April 5.

U.S. new vehicle sales of 1,455,030 units for the month of March represented an increase of 15.5% from February, and an increase of 5.1% from one year ago in March 2023.

There were 27 selling days in March 2024, same as the 27 days in March 2023.

March’s passenger car sales were 293,894 units the same level as last March, resulting in a 20.2% market share, while SUV and truck sales increased 6.5% to 1,161,136 units, resulting in a 79.8% market share.

Light vehicle seasonally adjusted annualized sales (SAAR) for March 2024 was 15.56 million units versus 15.02 million units one year ago.

General Motors monthly sales decreased 0.5%, Ford sales increased 5.5%, and Stellantis sales dropped 9.3%.

As EV competition intensifies, Tesla sales decreased 14.4% from last March to 50,400 units, giving it a U.S. market share of 3.5%.

EV startup Rivian sales were up 74.3% to 4,892 vehicles, Polestar sales were down 20.8% from the same month last year to 690 vehicles, Lucid Motors sales were up 3.0% to 575 units, and newcomers Fisker sold 610 vehicles, while Ineos sold 595 SUVs.

Among Japanese companies, Toyota sales were up 22.5%, Nissan sales were down 1.1%, Honda sales were up 11.8%, Subaru sales were up 15.2%, Mitsubishi sales were up 52.8%, and Mazda sales were up 6.7 %.

Hyundai sales were up 2.2%, but Kia sales were down 2.6%.

Among German companies, VW sales were up 36.9%, BMW sales were up 1.9%, and Mercedes-Benz sales were up 2.8%

Jaguar Land Rover sales increased 35.1% from last March, but Volvo Car sales increased 49.7%.

The best-selling models in March 2024 were:

  1. Ford F-Series (down 13.2% from March 2023)
  2. Chevrolet Silverado (up 0.7%)
  3. Toyota RAV4 (up 51.2%)
  4. Nissan Rogue (up 14.1%)
  5. Honda CR-V (up 17.9%)
  6. Tesla Model Y (up 0.3%)
  7. Ram Ram pickup (down 16.0%)
  8. Toyota Camry (up 21.3%)
  9. GMC Sierra (up 21.7%)
 10. Honda Civic (up 44.9%)

(from Autodata results posted April 2, 2024)