American Honda Motor (HMC) Reports 9.2% Decline in July Sales

August 1, 2008 1:47 PM EDT

American Honda Motor (NYSE: HMC) posted July total vehicle sales of 138,744, a daily-selling-rate basis decline of 9.2% compared to July 2007 results.

Honda Division posted July sales of 125,916, a decline of 8.2% versus July 2007. The Fit sold an all-time record of 12,266, up 78.5%. Civic Hybrid broke its previous July record, set in 2006, with sales up 27.4% to 3,440, while the Accord increased 2.8% to 41,382.

"The uncertainties in the market have been quite profound in the past few weeks," said Dick Colliver, executive vice president of sales for American Honda. "We are adjusting our production to meet the rapidly changing needs of buyers and are confident these changes will provide the needed inventory as we move forward."

Honda total car sales of 82,976 increased by 6.7% to achieve a new July record. Honda light truck sales saw a decrease of 27.8% to 42,940.

The Acura Division posted sales of 12,828, a decrease of 17.7% compared to July 2007. The division's all-new TSX continues to perform well with July sales up 15.9% to 3,474.

Honda Motor Co., Ltd. (Honda) develops, produces and manufactures a variety of motor products, ranging from small general-purpose engines to specialty sports cars that incorporate Honda’s internal combustion engine technology. [SM]

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