Last year, Honda launched new generations of four of its most popular vehicles — the HR-V, CR-V, Pilot and Accord — and revealed its first electric vehicle — the Prologue, which is the result of a collaboration with General Motors that will go on sale in 2024.
A parade of new product is promising for dealers and consumers, but Honda is still struggling to get inventory to dealerships. Production delays caused by the microchip shortage and ongoing shipping challenges in China have stifled sales, while dealers stand by month after month watching rival brands recover.
"Unfortunately, Honda's inventory levels have been a little more challenging than I think anyone's expected," said Bill Feinstein, chairman of the Honda National Dealer Advisory Board. "We thought that by the fourth quarter, we would start seeing some improvements, and while there have been marginal improvements, inventory levels continue to be challenged."