Despite limited inventory, Honda is trying to keep potential car shoppers in the fold by extending expired lease agreements and by honoring national incentive programs, even when the vehicle is not in stock, according to the Wall Street Journal.
Honda has initiated a new incentive campaign called the Honda Promise. On Honda’s retail website, the company describes the promise as follows:
“You may be concerned about the availability of your next Honda vehicle. Should recent events impact the vehicle of your choice, we’ve developed special options for you until your new Honda arrives. To learn more about your options, please contact your local Honda dealer today and find out if you qualify.”
The Wall Street Journal has learned that those measures include honoring incentives, regardless of the current availability of the given model at a dealer’s lot, and to extend lease agreements for an extra 12 months. Acura, Honda’s luxury brand, is reportedly offering similar incentives.
In addition to the lease deals and pledge, the automaker will also start a new incentive campaign, which started Wednesday, according to Automotive News. Those deals include $0 due at signing and low monthly payments on the Accord, Accord Crosstour, Odyssey, CR-V and Pilot. There are also low 1.9% financing deals on the outgoing 2011 Honda Civic.
Honda expects its inventory problems will be resolved by August.
Honda Tells U.S. Dealers to Honor Discounts on Out-of-Stock Cars (Auto News)