American Honda Motor Co., Inc. today announced plans to raise prices on 2005 model year Honda and Acura vehicles an average of $150 or 0.58% on a sales weighted basis. This increase comes as a result of increased operating costs, such as rising costs of steel, and currency exchange rate factors. The increase affects all models except Honda Element, Insight, Civic LX SE and Acura NSX.
Prices on the most popular Honda car models (Accord and Civic) will increase $100 to $150, while light truck models (Pilot, Odyssey and CR-V) will increase $200. Affected Acura models will increase $200, except for the RSX, which will increase $100. The new prices become effective on vehicles assigned for delivery to Honda and Acura dealerships after February 13. Vehicles in current dealer inventories will not be affected by this change.
"We remain steadfast in our commitment to delivering products of the highest quality and value," said Thomas Elliott, executive vice president of American Honda Motor Co., Inc. "When viewed in the context of product content, performance, quality and resale value, Honda and Acura vehicles continue to offer the strongest value propositions in the industry."
The Honda Odyssey EX and LX recently received the 2005 IntelliChoice Best Overall Value of the Year award for the overall van category over $25,000 and overall van under $25,000, respectively. In addition, the Civic Sedan, Coupe and Civic Hybrid earned best value awards in the subcompact and compact classes.
For the second consecutive year, Automotive Lease Guide (ALG) recognized American Honda as the corporation with the highest predicted resale across its full product line.