Toyota raises prices while Detroit cuts deeply
"Kondo, the head of Honda's American operations, said the Big Three's price cuts had not affected sedan sales. He said this was because surging fuel costs were leading consumers to look not only at sticker prices but also gas mileage.
But Kondo said the price cuts had hurt sales of pickup trucks, a market Detroit has traditionally dominated. For instance, he said sales of Honda's Ridgeline pickup truck would probably fall a few thousand vehicles short of its target of 50,000 this year. In response, Honda modestly increased rebates on the Ridgeline to $1,000 in mid-June, Kondo said."
By Martin Fackler
New York Times News Service
"Kondo, the head of Honda's American operations, said the Big Three's price cuts had not affected sedan sales. He said this was because surging fuel costs were leading consumers to look not only at sticker prices but also gas mileage.
But Kondo said the price cuts had hurt sales of pickup trucks, a market Detroit has traditionally dominated. For instance, he said sales of Honda's Ridgeline pickup truck would probably fall a few thousand vehicles short of its target of 50,000 this year. In response, Honda modestly increased rebates on the Ridgeline to $1,000 in mid-June, Kondo said."
By Martin Fackler
New York Times News Service