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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.

Ludacris discusses Fast and Furious 7 and his 1993 Acura Legend

It's easy to think of most wealthy celebrities as egotistical, materialistic individuals who own a Ferrari for every day of the week. The reality, though, is often much less severe. See, they can get attached to things, like cars, just like normal folks. Take Alfred Morris, for example. A 22-year-old running back with the Washington Redskins. Morris still drives the 1991 Mazda 626 that he had in college, despite a healthy $2.2 million contract.
Rapper/actor Ludacris is an even more extreme example of automotive loyalty. With an estimated net worth of over $70 million, Luda has the money for his own private plane. Yet that wealth doesn't stop him from regularly driving the 1993 Acura Legend he has had since before he found fame.
Ludacris, whose real name is Chris Bridges, recently discussed his old Acura during an appearance on the Ellen DeGeneris Show to promote his new album. It sounds like he's put 10,000 miles on the trusty sedan since it last popped up online less than a year ago, so it's pretty clear that he drives it on the regular. In fact, Ludacris says he still pens new songs sitting inside it, just like he used to back in the day when he was starting out.

Honda CEO says we shouldn't expect any new sports cars

It wasn't so long ago that Honda was known for its sporty two-door models, with models ranging from the Civic del Sol to the Prelude and from the Acura Integra and RSX to the Honda S2000. But look at its range today and all you'll see are the Civic and Accord coupes. Honda has essentially let competitors like the Scion FR-S/Subaru BRZ and Nissan 370Z take the place it once claimed as its own. But if you were hoping Honda would fight back with a new coupe or convertible of its own, we're afraid you're going to have to downgrade those hopes to pipe dreams.
While in Japan ahead of the Tokyo Motor Show, Autoblog had a chance to sit down with American Honda CEO Tetsuo Iwamura (pictured at right). When we asked about the potential for a new sports coupe or convertible in the Honda or Acura lineup, he pointed to the current Civic and Accord coupes - not to mention the upcoming new NSX - but said that Honda has no replacement for any of the aforementioned models (or a rival for the FR-S or 370Z) in the pipeline, saying only that the company is monitoring potential demand.
What Iwamura-san did note was that he's a personal fan of the new S660 roadster (pictured above) set to be unveiled tomorrow, and he is pushing (or at least hoping) that it will come to North America. Given that he's head of both Honda's American office and its global automobile operations, one might think that the only person he would have to persuade is himself (well... himself, and potential buyers), but the sporty droptop looks to be about kei-sized, which sadly suggests that it may be too small for American tastes and perhaps not designed with US crash-test standards in mind anyway.