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Honda’s Inventory Shortage: Here’s How to Strike a Great Deal

September 8, 2023

The supply chain disruptions of last year are still lingering for Honda, and fans of the beloved brand are seeing the effects at Honda dealerships. Despite this, Honda deals can still be had, if you know where to look and how to negotiate. The current state of Honda’s inventory offers insights into which models provide more wiggle room for negotiation and which ones are a tighter squeeze. Plus, we’ll take a look at the best Honda offers this month. Let’s delve into the numbers and see where you might find the best deals.

Navigating Honda’s Current Stock

Savvy car buyers have a little-known trick up their sleeve: market day supply. Previously, market day supply (MDS) was only used by auto industry insiders. We’re out to change that.

Market Day Supply takes into account the existing inventory of a new or used vehicle, and the selling rate over the last 45 days. What you get is the number of days it would take to sell ALL vehicles in stock at current selling rates, assuming no new inventory was added. In simple terms, MDS reflects the level of demand for a car. High MDS almost always means high negotiability. Low MDS suggests that deals will be harder to come by.

For starters, a ‘healthy’ MDS in the car market is somewhere between 45 and 60 days of supply. Anything below 20 days is a real shortage, and anything above 80 is a serious oversupply.

When assessing the most negotiable new Honda models based on present market supply, three models stand out: the HR-V, Passport, and Honda’s unique truck, the Ridgeline. These vehicles offer buyers a good chance to get a sweet deal.

Here’s the latest Honda inventory nationwide. We’ve included used Honda inventory numbers to highlight possible opportunities for better deals, depending on the model.

For local market numbers, check out CarEdge Data.

Honda Sedans:

ModelNew/UsedMarket Day SupplyTotal For Sale
AccordNew 2024N/AN/A
AccordNew 20233015,199
AccordUsed 2022492,104
AccordUsed 2021492,918
AccordUsed 2020434,004
CivicNew 2024N/AN/A
CivicNew 20233410,457
CivicUsed 2022501,811
CivicUsed 2021531,779
CivicUsed 2020404,798

Honda SUVs and Trucks:

ModelNew/UsedMarket Day SupplyTotal For Sale
CR-VNew 20242417,695
CR-VNew 2023122,260
CR-VUsed 2022451,675
CR-VUsed 2021472,761
CR-VUsed 2020415,596
HR-VNew 20244714,733
HR-VNew 2023151796
HR-VUsed 2022591,834
HR-VUsed 2021521,523
HR-VUsed 2020391,602
OdysseyNew 2024N/AN/A
OdysseyNew 2023314,902
OdysseyUsed 202274613
OdysseyUsed 202161605
OdysseyUsed 2020511,145
PassportNew 2024N/AN/A
PassportNew 2023453,608
PassportUsed 202256459
PassportUsed 202160968
PassportUsed 202053754
PilotNew 2024N/AN/A
PilotNew 2023267,349
PilotUsed 2022521,314
PilotUsed 2021482,219
PilotUsed 2020471,848
RidgelineNew 2024N/AN/A
RidgelineNew 2023394,537
RidgelineUsed 202257364
RidgelineUsed 202161322
RidgelineUsed 202047497

On the other hand, the least negotiable models in the Honda lineup, perhaps unsurprisingly, are the popular CR-V and the spacious Pilot. But don’t lose hope; while new models might be challenging to haggle over, there’s a silver lining.

Used Honda Deals Are More Abundant

A closer look at Honda’s inventory reveals that the used car market offers a more balanced playing field. For those eyeing a Honda, it seems that the gently used 2021 models are where the action is. Cars from this year appear to be in ample supply, making them a prime target for savvy buyers aiming for a reasonable deal.

Remember: in general, 2021 used Honda models are in high supply. However, there are nuances from one model to the next. For specific data points for particular models in certain markets, we recommend CarEdge Data.

We track the used car market weekly here, and it’s clear that wholesale prices are in freefall. Slowly but surely, these price declines are translating to retail markets. It seems that used car dealers are fighting the overall market’s downward trend as long as they can.

The Best Honda Deals This Month

Honda Ridgeline deals

Even with low inventory for its most popular models, Honda is offering great financing and lease deals this month. Caution: dealers are known to add ‘market adjustments’ onto the price tag of the popular, low inventory models. We do NOT think any Honda buyers should agree to pay any dealer markups in today’s market. Need assistance negotiating markups and fees? Speak to a CarEdge Car Coach today.

Honda Finance Offers

The average APR for a new car loan is 7%, so these deals are worth considering.

Ridgeline: Enjoy a 0.9% APR for 24 to 36 months (or 2.9% APR for up to 60 months).

Accord and Passport: 2.9% APR for up to 40 months.

Other Models: 3.9% APR for up to 48 months (or 4.9% APR for up to 60 months).

See offer details at Honda.com

Honda Lease Deals

Accord: Drive away with a lease at $299/month for 36 months, with an initial payment of $3,299.

Civic Sedan: Get behind the wheel for $259/month, with $3,299 down.

CR-V: Lease deals start as low as $309/month for 36 months with a down payment of $3,399.

Passport: If size matters, this larger vehicle is available starting at $369/month for 36 months, with $4,899 down.

See offer details at Honda.com

Closing Thoughts on the Honda Market

honda accord deals this month

While Honda’s inventory shortage might seem challenging at first glance, opportunities still abound. From the possibility of scoring a deal on newer models to tapping into the value of gently used vehicles, there are avenues worth exploring. 

As with any market fluctuation, the key lies in understanding the dynamics and positioning oneself strategically. So gear up, arm yourself with this intel, and drive into your Honda negotiation with confidence. Remember, even in a market pinch, there’s NO justification for overpriced add-ons or inflated warranties.

Ready to negotiate like a pro? Try CarEdge Coach and CarEdge Data today! With these tools at your disposal, you can take control of your car buying experience, understand market dynamics, strategize effectively, and secure the best deal possible. We’re simply here to help!


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