Something needs to be done to overcome declining sedan sales.
Executives from various automakers are starting to realize a very scary truth: consumers don't love midsize sedans anymore. The entire segment has been called a bloodbath and even established brands like Honda are starting to struggle. Dealerships require help to sell the Accord in the form of heavy incentives from the factory. The issue was so bad, Honda had to temporarily stop production on the Accord. Its seems like Honda now has a strategy to overcome the slow sales in the form of better lease deals.
Cars Direct reports national lease price cuts for the Accord by up to $1,100. Before these new lease deals, offers on the Accord have been nearly nonexistent, and the car was more expensive to lease than cars costing up to $9,000 more in MSRP. With these new price cuts in place, a 2018 Accord 1.5T LX can now be leased at $249 per month for 36 months with $2,399 due at signing, a $800 discount, and the effective cost per month has dropped by $22. The higher trim 1.5T EX model get an even bigger price cut of $1,100, and now costs $289 per month for 36 months with $2,699 due at signing.
Even the 2.0T Sport is cheaper by $10 per month and the signing amount is $900 cheaper than it was, now $3,099. We recently tested a 2018 1.5T Touring, and enjoyed the driving experience more than similarly priced crossovers. Hopefully these new deals will bring buyers away from crossovers and back to the nice handling sedan.