There are plenty of reasons why the 2018 Honda Accord is fantastic, but only one reason why it's not really selling all that well. While the popularity of crossover vehicles has all but skyrocketed in recent times, the Accord is having trouble getting off the lots due to its rather unremarkable leasing offer. With the competition giving consumers similar options at better prices, Honda’s struggle only makes sense.
The 2018 Accord has received numerous accolades from car critics, but Honda's managed to leave out a particularly important facet that’s attractive to new car buyers – a good deal. If you were to look at the leasing offer for a new base trim Toyota Camry, a longstanding competitor of the Accord, a 36-month agreement at $219/month with $1,999 down is a typical deal. In comparison, a base Accord with the same three-year lease would be $249/month with $3,199 down. Due to this, Honda dealerships have had a hard time moving the Accord, even to the point where they’ve turned down resupply shipments from the Accord factory in Ohio.
Some dealers feel that Honda has abandoned those who only lease vehicles. As of March 1st, inventory levels are at a 104-day supply, which is considered pretty high. If Honda can’t figure out a way to sell these Accords, dealers are going to be forced to cancel any resupply taps. More inventory without a stream of fluid sales is counterproductive.
The company seems to have bet on the quality of the car a bit too much, hoping consumers would flock to its greatness alone. Since that’s not the case, especially with those who wish to lease the vehicle, it becomes even more of an uphill battle. Hopefully Honda’s gamble that their “better product” will outweigh the competition’s better deals, doesn’t come back to bite them.