"Just past the halfway point in 2016, our strong cadence of new Honda products has created record customer demand that has us headed toward a third consecutive year of record automobile sales. Significantly, this strong demand is balanced between cars and light trucks, is driven by retail sales to individual customers not bulk sales to fleets – all while maintaining among the lowest incentives in the industry.

While the success of Honda trucks, including an all-time July record for CR-V last month, reflects the market's shift to SUVs and trucks, our passenger car sales continue to buck that trend with Civic and Accord as the two most popular cars in America this year, up 18% and 6%, respectively, in a market that is down 8% for cars.

Honda also is outpacing all other major automakers in retail sales in 2016 while, at the same time, maintaining the lowest incentive spending among that group. This speaks to the fundamental value of our products as determined by individual customers voting with their own hard-earned dollars.

Our actions are rooted in our most fundamental objective: to provide customers with products of the highest quality at a reasonable price, and to protect the value of those products in the hands of our customers. That's who we are, that's how we do business, and we wouldn't want it any other way."

Sincerely,

Jeff Conrad Senior Vice President and General Manager Honda Automobile Division