Honda Motor Co Ltd is expected to unveil its new-generation Accord on Friday. The re-engineered mid-sized sedan is one of the four such vehicles from Asian automakers to soon hit the U.S. market. Analysts are hopeful that the vehicle will be able to make a mark in the market that is presently witnessing an increased shift of Detroit automakers from the famed and much loved sedan segment towards crossovers, SUVs, and pickup trucks.
The newest Accord by Honda, like the new Camry by Asian rival Toyota, is projected to offer many improvements on fronts such as safety and styling, technology, and fuel economy. The Accord and Camry have been the critical to strengthening Honda and Toyota’s position in the U.S. automobile market, each seeing sales of over 300,000 vehicles in the country a year.
The mid-sized sedan segment has not witnessed any new cars in the past three years and car manufacturers think that now is good time to bring the consumer attention back to the segment. The segment will also witness the launch of a new Sonata mid-sized car by Hyundai Motor Co and a new Altima mid-sized sedan by Nissan Motor Co Ltd.
To date, as compared to the past year, sales of passenger cars have declined by 11.4% and sales of mid-sized sedans have come down by 14.2%. Still, 7.1 mn sedans were sold in the country in 2016. With big shots such as Ford Motor Co and General Motor Co cutting down their production of sedans, and Fiat Chrysler completely abandoning the segment, Asian car companies such as Honda could bring back the heat with updated models.