It's actually kind of rare for Honda to do this.
Honda is one of the few automakers that rarely offers sales incentives for any of its models. How come? We don't know exactly, but one of our best guesses is quite simple: it doesn't have to. Its vehicles have excellent reputations thanks to their high build quality, stellar reliability records, and fun to drive factor. Sales have always been excellent without incentives, so why bother? That's been Honda's policy for years but now one of its most iconic and previously best-selling models is being offered with a loyalty discount.
According to Cars Direct, starting right now, the Honda Accord mid-size sedan and its hybrid counterpart has a $750 loyalty bonus attached as part of an effort to boost sales. Honda owners know this is a rare occurrence.
Is it because Accord sales are slow? Perhaps. Last year, sales were down by a fairly significant amount compared to the year prior, 291,071 vs. 322,655. Only five years ago, Honda sold a total of 388,374 Accords in the US. Honda's data must indicate there are enough Accord owners out there who will be looking to replace their vehicles and the automaker wants to make sure they not only stay with them but also continue driving an Accord. That $750 loyalty discount applies to current owners of any 2009 or newer Honda model.
What's more, the promotion can be shared with members of the same household and no trade-in is required. It's also worth noting this isn't a promotion for the month of May only, but rather for an extended period of time.
As of now, it's set to expire on July 8. Now, $750 is not really a major price drop for any new vehicle, especially Hondas, but chances are the incentive is also being used to lure current Accord buyers back to dealerships, and the sales team will go from there. Honda has made clear it has no plans to discontinue the Accord, but as customers continue to trade-in traditional family sedans for crossovers, who knows what could happen. After all, the Ford Fusion will soon be gone and a host of other sedans, including the Chevrolet Impala and Buick LaCrosse, will also soon meet their maker.