Honda reports its lowest new car inventory in over a decade

The Japanese automaker released its May YTD sales figures, which show significant declines in its sales performance.

American Honda reports a 36 percent decline in sales from January to May 2022, down from 435,159 units the previous year. These figures include Honda and Acura sales in the US.

Over 75,000 vehicles were sold by American Honda in May alone, a significant decline from the 176,815 units sold in May 2021. As inventory levels are at historic lows, supply constraints are to blame.

The next-generation Honda CR-V will arrive this year, but the crossover SUV remains the top seller in the lineup, with over 17,000 sold in May and over 93,000 YTD.

Similarly, 11,250 units of the HR-V have been sold by May 2022, despite the fact that the new version will go on sale on June 7.

In the meantime, there is a bit of a ruse among the Honda sedans. The Civic usually outsells the Accord, but the report shows that the midsize outsold the compact - 11,066 vs 8,147, respectively.

The Honda Civic and CR-V are pre-sold more than half of the time before they arrive on Honda dealer lots.

In Acura, SUVs outsold sedans, but American Honda remains bullish for the remainder of the year as it launches its new Integra on June 2, 2022. As a result, Integra's pre-sales remain strong, generating positive energy among Acura dealers.

The same is true for Honda vehicles, where new models are already slated for release this year. Whether the company will be able to recover from the inventory slump that plagues its sales numbers remains to be seen.

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