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Honda Inventory Is the Highest It’s Been In Years – These Are the Most Negotiable Models

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Last updated Dec 11, 2023

Honda’s new car inventory has risen 38% in just two months. Just in time for the best year-end car sales in ages, an oversupply of both new and used Honda models presents a rare opportunity to negotiate a great deal. We’ll take a look at which new and used Honda cars and SUVs are the most negotiable today, and how you can make a data-powered deal in December.

Snapshot:

  • Unprecedented Honda Supply: New car inventory up 38% in just 2 months – a rare opportunity for mega deals.
  • Used Hondas in Abundance: Rising supply makes now a prime time to buy – if you’re prepared for high interest rates.
  • Hot Picks: CR-V and Accord lead the pack in negotiability, especially with looming 2024 models.
  • Smart Buying Tip: With low APRs on new Hondas, consider new over used for the best financial deal.

Read on for the latest details and money-savings tips.

Year-End Honda Deals Are Here

Honda CRV year end sales

December is always the best time to buy a car. This is especially true for new Honda inventory in 2023. What’s so special about 2023’s year-end car deals? In a high interest environment, the biggest sales of the year are a long time coming. With automakers and dealers eager to sell remaining 2023 inventory, and everyone eyeing an end-of-year bonus, phenomenal deals are everywhere you look. 

Today’s car buyers have options. For those willing to master car buying the smart way, thousands of dollars in savings await. Sure, you could simply browse the best Honda deals this month, or you could negotiate like a boss with the added leverage of Honda inventory numbers. CarEdge is here to help you get there.

Honda Inventory Is Rising in December 2023

Honda Accord year-end sales

First, let’s talk about the inventory trends of new Honda models in the U.S. Back in October, Honda was just beginning to climb out of the inventory lows that had plagued the automaker for a few years. Ever since the pandemic supply chain shortages pummeled Honda and other Asian automakers with record-low inventory levels, the beloved brand has been struggling to return to normal. 

Finally, in late 2023, Honda’s supply of new cars is rising, to the benefit of holiday car shoppers.

By using a behind-the-scenes industry metric, we can see exactly how negotiable new or used cars are today. This metric is called Market Day Supply. 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. 

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. Today, Honda averages a healthy 47 days of supply. For Honda, this is quite high. It’s all relative, though. If this was one of the domestic brands (Ford or Chevrolet, for example), 47 days of supply would be below average. For Honda, it’s higher than normal. 

With the power of understanding market conditions in mind, let’s take a look at how much Honda’s new car inventory has risen in late 2023:

ModelYearOctober Market Day SupplyDecember Market Day Supply
Accord2024N/A (new model)56
Accord20233058
Civic2024N/A (new model)50
Civic20233462
CR-V20242434
CR-V20231299
HR-V20244758
HR-V2023151891
Odyssey2024N/A (new model)45
Odyssey202331120
Passport2024N/A (new model)55
Passport20234530
Pilot2024N/A (new model)45
Pilot20232645
Ridgeline2024N/A (new model)N/A (new model)
Ridgeline20233953

Overall, Honda’s new car inventory has risen from 34 market days of supply in October to 47 days of supply in December, an increase of 38% in just two months.

The jump in supply has been notably greater for some Honda models, such as the CR-V, and Accord. The selling rates of the Accord and HR-V are greatly skewed by a seatbelt recall that has affected 2023 and 2024 models. Dealers can’t sell affected HR-Vs and Accords until a fix is implemented.

However, with 2024 just days away, dealers will be eager to sell 2023 Accords and HR-Vs as soon as a recall fix is installed, making them particularly negotiable in the weeks ahead.

See new Honda listings with the power of local market data

With negotiation know-how, today is the ideal time to use local market data as leverage for negotiating a bargain of a deal.

The Supply of Used Honda Cars Is Climbing Too

Honda’s used cars are popular for several reasons. With great reliability ratings and high driver satisfaction, pre-owned Hondas are always quick to sell. 

In December of 2023, used Honda inventory is rising. What could be behind this unusual trend? The culprit is clear: high interest rates. Today, the average used car loan rate is hovering around 14% APR. More and more car shoppers are opting for new car deals as opposed to forking over extra cash for interest on a used car loan.

Here’s a look at how hard Honda’s used inventory is being hit in today’s high-interest environment.

ModelYearOctober Market Day SupplyDecember Market Day Supply
Accord20224960
Accord20214954
Civic20225060
Civic20215358
CR-V20224560
CR-V20214762
HR-V20225948
HR-V20215254
Odyssey20227479
Odyssey20216162
Passport20225676
Passport20216071
Pilot20225271
Pilot20214859
Ridgeline20225763
Ridgeline20216164

7 out of 8 used Honda models are seeing rising inventory in December. Does that mean that you should buy used instead of new? Not exactly. Honda is offering attractive APR deals in December, ranging from 1.9% to 3.9% APR. You will NOT be able to secure an auto loan rate anywhere near that low for a used car right now. With an average of nearly 14% APR, used car buyers with an excellent credit score will be lucky to qualify for anything under 7%. 

If you can afford the higher sticker price, we recommend giving new Honda cars and SUVs a serious thought in today’s car market. You’ll save thousands in interest over the life of your loan.

See used Honda listings with the power of local market data

Now Is the Perfect Time to Buy

In closing, with Honda’s inventory hitting a peak and used car supply also on the rise, December 2023 is shaping up to be a buyer’s paradise. Whether you’re eyeing a new CR-V or considering a pre-owned Accord, the current market dynamics offer a unique opportunity for negotiation. Armed with the latest data and understanding of market trends, savvy shoppers are in a prime position to secure some of the best deals on Honda models before we ring in 2024. Don’t miss this chance to drive home value like never before!

See local market insights with CarEdge Data, the ultimate car buying toolkit.

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