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Honda exec says US market near capacity, could hurt subprime buyers

Is there a point in the US auto industry where companies should start considering the welfare of their customers ahead of selling more cars? American Honda Executive Vice President of Sales John Mendel thinks that level exists, and we may be getting very close to it.
According to Automotive News, Mendel believes that finding more customers in the market could require pursuing subprime buyers and offering longer-term loans. However, he refuses to use those tactics. While selling models this way can improve things briefly, the strategies hurt resale prices and lower vehicle profits over time. The company won't do "stupid things in the short-term that damage the person who bought yesterday," he said to Automotive News. "It's a very, very short-term tactic especially in the subprime area."
American Honda, which combines the Acura and Honda brands, has seen market share decline from 9.7 percent to 9.1 percent through July 2014, according to Automotive News, and Autoblog's By the Numbers stats showed it posted falling sales in five of the seven months with data this year. Though, Mendel claims that was partially because the company focused on retail sales over fleets. The delays of the launches for the Honda Fit and Acura TLX likely didn't help either.

2015 Acura TLX priced from $30,995*

Following a delay this spring, Acura is now ready to launch the 2015 TLX sedan this August, with pricing now confirmed to start at $30,995, *not including $895 for destination. This base MSRP is just $360 more than that of the outgoing TSX sedan; the TLX replaces both the TSX and TL in Acura's 2015 model year lineup.
That's a pretty fair deal considering that introductory price gets buyers a front-wheel drive TLX with a 2.4-liter inline four-cylinder engine with 206 horsepower,mated to a new eight-speed dual-clutch transmission, and featuring the automaker's Precision All-Wheel Steer (P-AWS) system. Adding a Technology Package ups the MSRP to $35,025.
Of course, the TLX is also available with a 290-horsepower, 3.5-liter V6 mated to Acura's new nine-speed automatic transmission. The TLX V6 P-AWS starts at $25,220 and climbs to $39,250 with the Technology Package. The bottom line on the range-topping Advance model is $42,500. Acura's Super-Handling All-Wheel Drive is available with the 3.5-liter engine, too - the SH-AWD Technology model starts at $41,450, while the SH-AWD Advance commands $44,700.

Honda to compete in seven Pike's Peak classes in 2014

The Pikes Peak International Hill Climb is one of the greatest events on the international motorsports calendar. Its Unlimited class harkens back to the old days of racing, when teams built vehicles to be the fastest with whatever they had. Honda is returning to the event for 2014 for its second year as a sponsor and participant, and it's bringing some cool machines of its own.
The company is fielding seven entrants this year, which is somewhat smaller than last year. In 2013, it brought 11 factory-supported vehicles in 10 classes, including an insane Honda Odyssey with a 532-horsepower turbocharged V6 engine. There's no need to be too disappointed by the shorter list, though. Former 24 Hours of Le Mans-winner Romain Dumas is back piloting a Honda-powered Norma chassis up the hill in the Unlimited class. Dumas attempted to race the car last year, but it broke down during his run. Other competitors include an NSX (pictured above), Fit B-Spec and an S3700, which is an S2000 with a 3.7-liter V6 engine.
In its role as sponsor, Honda says it has also worked with the sanctioning body to add an AirFence safety barrier along some corners for the motorcycle and ATV riders. This year's Pikes Peak is being held on Sunday, June 29. Scroll down to read the full details about Honda's team and start getting excited for this year's running.