The 2018 Honda Accord is sleeker, lighter, lower, and cuts a smaller hole in the air than the last model, but its two-motor hybrid powertrain carries only very minor updates from that used in the prior generation of Accord Hybrid. It won the North American Car of the Year Award, and we certainly enjoyed it when we drove it.
Part of this can be attributed to the general market shift away from sedans and toward crossovers and SUVs.
The latest Accord, which launched the same year as a redesigned version of its USA arch-rival the Toyota Camry, has won numerous awards for its styling, driving and handling qualities, and features. Something else must be at work here.
Online, Honda is asking for a $249/month on a standard three-year Accord lease, with a $3,199 down payment for its entry-level LX version. The Camry LE is $219 a month for 36 months with only a $1,999 drive off.
Automotive News reports that dealers are complaining about Honda's leasing terms not being competitive with other manufacturers.
Additionally, the Accord's $24,460 base price is higher than the previous model, as well as the base $23,495 Camry. This, plus leasing terms that aren't as competitive as the Camry's, means that customers at the end of a lease on a 2015 Accord are finding they will have to pay significantly more for a 2018 Accord and are shopping elsewhere.
According to Autonews, inventory levels stood at a 104-day supply at the beginning of the month, and the culprit seems to be the lack of enticing lease offers - something Toyota has a handle on, when it comes to the new Camry.
Only time will tell how the Japanese automaker will price its mid-size hybrid sedan in the USA, though Honda must pay mind to the $27,800 that Toyota charges for the Camry Hybrid. You'd also be wrong. Because of this, Honda dealerships are having a tough time selling Accords and, as a result, some have even turned down resupply shipments from the Accord factory in Marysville, Ohio.