Honda HR-V: A Rising Star in the Compact SUV Market
Introduction
The Honda HR-V has been making waves in the compact SUV segment, with impressive sales figures that are turning heads. However, there's one small hurdle in its path to total domination: the Subaru Crosstrek. Let's dive into what makes the HR-V a compelling choice and how it stacks up against the competition.
Sales and Market Position
Honda's redesign of the HR-V has paid off big time. Sales have skyrocketed since the second generation hit the market, putting Honda on track to beat its all-time best year of 137,000 units sold in 2021. As of now, Honda has sold about 114,000 HR-Vs this year.
But here's where it gets interesting:
Subaru Crosstrek: 132,000 units
Chevrolet Trailblazer: 81,000 units
Toyota Corolla Cross: 67,000 units
Hyundai Kona: 64,000 units
Mazda CX-30: 73,000 units
The HR-V is giving the Crosstrek a run for its money, but it's not quite at the top spot yet.
Inventory and Availability
Good news for potential buyers: inventory isn't an issue for most brands in this segment. Here's a quick breakdown:
Honda HR-V: 16,000 units
Subaru Crosstrek: 16,000 units
Chevrolet Trailblazer: 12,000 units
Toyota Corolla Cross: 5,000 units (including hybrids)
Hyundai Kona: 8,000 units
Mazda CX-30: 11,000 units
For the HR-V specifically:
11,600 AWD models
6,300 FWD models
Trim levels: 3,600 EX-Ls, 4,600 LXs, and 9,600 Sports
Pricing and Discounts
The HR-V offers great value, with the LX trim starting around $26,000. For a well-equipped model like the Sport trim, expect an MSRP of about $29,995.
When it comes to discounts, here's what you might be able to negotiate:
Optimistic target: 5% off MSRP
Realistic target: 2.5% to 7.5% off MSRP
For a $29,995 MSRP, a 5% discount would bring the price down to $28,495 – a solid $1,500 discount.
Current Incentives and Lease Programs
Honda is currently offering:
4.9% promotional financing for 60 months
The lease program is a bit underwhelming:
65% residual value (which is good)
0.00218 money factor (which is not so good)
$500 lease cash for loyal Honda customers
With a 5% discount and paying inception fees upfront, you're looking at about $354 per month on a lease.
What's the Best Move?
Given the current market conditions, buying new might be the smartest option. Here's why:
The used market is full of previous-generation models
The lease program isn't particularly attractive
The residual value is high at 65%
Taking advantage of the 4.9% financing over 60 months could make for a solid long-term investment.
Conclusion
The Honda HR-V is proving to be a strong contender in the compact SUV market. With its redesigned look, competitive pricing, and solid sales figures, it's definitely worth considering if you're in the market for a small SUV.
Remember, the auto market is always changing, so these figures and offers may shift. It's always a good idea to do your homework and negotiate confidently when you're ready to buy.
Have you test-driven the HR-V? What are your thoughts on how it compares to other compact SUVs? Share your experiences in the comments below!
Want more detailed information on the HR-V and its competitors? Check out the supplemental data mentioned in this post for an even deeper dive into the numbers.
