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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.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

Is Acura working on a premium minivan?

Here's a vehicle that nobody saw coming. Unless Honda/Acura is keen to play tricks on us, our spy shooters recently caught what appears to be an Acura minivan fully camouflaged for testing on some back roads on a rainy day.
Details on the disguised minivan are rather scarce, but it certainly bares all the hallmarks of an Acura. The front grille alone gives it away with a look that mimics the latest MDX, and note that the orientation of the rear door handle heavily suggests that it slides to open. Moving inside, the tester appears to borrow some tech from the luxury brand's parts bin too, and the Acura logo seems to be covered in tape right in the middle of the steering wheel.
Mechanically, our spies believe that the production version of Acura's minivan might borrow the brand's V6, nine-speed automatic and Super Handling All-Wheel Drive - a similar layout to some trims of the TLX. The photographers also think that the vehicle is a little wider than the current Honda Odyssey to give occupants a bit more room. Given the more luxurious focus, the high-end model would surely carry seven people with a bit more opulence than the standard Odyssey, especially, we'd imagine, for second-row passengers. A launch for this posh hauler could be slated for the 2016 or 2017 model years.