Some Good, and Bad, News From Honda's May Sales
Honda’s introduction of their new Insight hybrid helped the company boost their hybrid vehicle sales by 7.5% in May of this year over May 2008. This sales increase, alongside similar boosts for the hybrid lines of other car manufacturers like Toyota and Ford, represents a confirmation of the fact that American drivers are in fact beginning to embrace hybrid vehicles in their lives, forgoing the gas guzzlers that previously dominated the market.
While that is indeed a promising sign of things to come, Honda’s sales didn’t turn out all that well on the whole. Overall sales for the month of May were down 39.2%. While that is certainly a frightening number, a bit of explanation is warranted. May of 2008 was one of the best-selling months in Honda’s history. Gas prices were high and the recession had yet to put a major crimp on the credit markets, allowing more people to buy vehicles, and they went with the dependable, and relatively fuel-efficient, Honda. Considering the current economic times, it would have been impossible for the company to match their record-setting numbers of a year ago. If Honda can maintain their current sales until the economy recovers, they will be ideally suited for future growth.
