Honda Sets New Milestone with Q1 Profits Exceeding $3 Billion in USA

American Honda Motor Co. Inc. achieved remarkable results in the first quarter of 2024, posting its best performance in three years. The company’s robust sales were driven by strong demand for both cars and SUVs, particularly in the U.S. market. Here are the key highlights:

Honda Brand’s Impressive Performance:

Sales Surge: The Honda brand reached 118,536 units in March, marking its best month since 2021. Overall, Honda saw over 20% growth in Q1, with total sales of 303,451 units.
SUV Dominance: Honda SUVs had a stellar March, with models like the HR-V, CR-V, Passport, and Pilot achieving their best sales month in 2024. The CR-V, in particular, topped 36,500 units, with nearly half of those coming from CR-V hybrid sales.
Civic and Accord: These popular models combined for over 41,000 units in March, reflecting a 20.7% increase compared to the same period last year.

Acura Brand’s Momentum Continues:

Sales Milestone: Acura posted its best sales month of 2024, with a total of 11,968 units. The Integra led the premium gateway segment, outselling its nearest competitor by threefold.
RDX Success: The RDX achieved its best Q1 total since 2021, with sales up by an impressive 48.6%.

Safety and Awards:

Five 2024 Honda models earned TOP SAFETY PICK or better ratings from IIHS, emphasizing the brand’s commitment to safety.
Honda received six 2024 KBB Awards, including “Best Overall Brand,” “Best Value Brand,” and “Best Overall EV/Hybrid Brand.”

Mamadou Diallo, Senior Vice President of Auto Sales at American Honda, expressed enthusiasm about the sales momentum: “Nearly all models across our lineup posted increases, demonstrating the true strength of the Honda and Acura lineup when we finally have supply to meet customer demand.”
In addition, Honda Motor is set to report a group operating profit surpassing 450 billion yen ($3.08 billion) for the first quarter ended June 2024. This record-breaking profit is fueled by strong sales of hybrid vehicles in the U.S. market.
The automotive industry continues to evolve, and Honda’s success underscores its commitment to innovation, quality, and customer satisfaction. As the world embraces electric and hybrid vehicles, Honda remains at the forefront, delivering exceptional products that resonate with consumers worldwide.