TOKYO -- Honda Motor Co. will try to reduce sales incentives in the United States by freshening the Accord and remodeling the Civic this fall.
In the current year, which started April 1, Honda expects to spend an average of $480 per vehicle, down from $610 in the previous fiscal year ended March 31. Honda wants to reduce Accord incentives to $880, from $1,050 last year, and to cut Civic incentives to $480, from $690.
At a press conference last week, Koichi Amemiya, Honda Motor executive vice president, declined to be specific about plans to refresh the Accord. In the first three months of this year, U.S. sales of the key nameplate fell 7.0 percent from a year earlier, to 77,371.
Overall, Honda expects to sell 1.675 million vehicles in North America in the current fiscal year, up 6.3 percent from the last fiscal year. Sales projections count on the Ridgeline pickup, which went on sale in February, to get off to a good start.
In the fiscal fourth quarter ended March 31, Honda fared better in North America. Its operating profit in that region shot up by nearly sevenfold to $685.6 million, driven by sales of the Acura RL and TL sedans and the Honda Odyssey minivan and Pilot SUV.
Honda's consolidated, or group, net income for the three months surged 26.9 percent to $875.8 million. Operating profit soared 24.3 percent to $1.31 billion. Revenues rose 9.5 percent to $21.88 billion.
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