Honda’s Hybrid CR-Z sales surpassed expectation

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Since the unveiling of its CR-Z hybrid car roughly last month, Honda had only expected to sell it at about 1,000 vehicles per month. But that sales target got shattered by 10 times by the sales of the Honda CR-Z since a month ago. The company said the total orders for Honda CR-Z had exceeded 10,000 vehicles. Honda has nearly reached its domestic annual sales goal of 12,000 in just under a short period.

Such shattering sales number from Honda was given to Toyota’s woes, which about eight million vehicles were recalled due to numerous electronic and mechanic problems. As you can see consumer confidence in the Toyota brand has shifted to the next best comparable brand.

“If Honda can gain sales, they are going to promote the brand at the expense of Toyota. They are not blind to the situation,” says Chris Richter, automotive analyst at CLSA Asia-Pacific Markets.

“Honda is the second-largest hybrid car maker by volume after Toyota, and its Insight hybrid car was the first mass-produced hybrid automobile sold in the U.S.”

One man’s nightmare is another man’s dream as we say it. In ALG’s Spring 2010 Automotive Consumer Attitudes Survey, Toyota fell from being a top-dog to sixth place in its sensed quality score, Honda jumped to first place, and followed in third by Nissan Motor.

Final analysis, the 10,000 vehicle sales does not even budge the sales of Toyota’s Prius hybrid vehicle, which more than 27,000 Priuses were sold alone in February. This may just be a hiccup for Toyota, and all it needs to do is hold its breath for a short moment to make it go away. But in the meantime, Honda is cashing away with its soaring vehicle sales.

Via The Wall Street Journal