Honda Australia Slashes Prices of CR-V, ZR-V, and HR-V SUVs
Honda Australia Slashes Prices of CR-V, ZR-V, and HR-V SUVs
Can Honda’s price adjustments and sales growth overcome the challenges it has faced in recent years?
In an effort to boost sales, Honda Australia has reduced the prices of its popular CR-V, ZR-V, and HR-V SUVs. However, the Civic Type R hot hatch has experienced a price increase. Let’s take a closer look at these changes.
The Honda CR-V, which is the brand’s best-selling model, has seen a reduction in price for its entry-level VTi X FWD grade. This particular variant is now priced from $43,900 drive-away, representing a $1000 decrease. However, the prices of all other CR-V variants remain unchanged.
The HR-V, which is Honda’s most affordable car in Australia, has undergone the largest price adjustment. The current HR-V, which is in runout, is now available for $34,900 drive-away in Vi X petrol guise, reflecting an $1800 reduction. Moreover, the hybrid E:HEV L variant is now priced from $43,900 drive-away, down by $3100.
Moving on to the ZR-V, which sits between the HR-V and CR-V in terms of size and price, the entry-level ZR-V VTi X can now be purchased for $39,500 drive-away, a $700 decrease. The VTi L variant is priced at $42,500 drive-away, representing a $1000 price cut.
Unfortunately, despite these price cuts, the three SUVs no longer come with a seven-year, unlimited kilometer warranty. This warranty was introduced for 2023 model year vehicles in January but was only available until the end of March. The vehicles have now reverted to Honda’s standard five-year warranty.
On the other hand, the Civic Type R hot hatch has experienced a $1000 price increase, starting from $73,600 drive-away. Despite the price bump, a major shipment of the hot hatch arrived in February, satisfying the brand’s wait lists.
It’s worth noting that Honda’s switch to fixed pricing in mid-2021 has resulted in its weakest sales performance in Australia. Sales dropped from 29,040 vehicles in 2020 (the last full year before fixed pricing) to 14,215 sales in 2022, and 13,734 sales in 2023. In comparison, Honda sold 25,571 vehicles in 1997 and reached a record of 60,529 sales in 2007.
However, there is some positive news for Honda, as the brand has seen an 18.9% increase in sales during the first quarter of 2024. In Australia, 4683 Honda cars were sold during this period, although the ZR-V was not yet available.
In conclusion, Honda Australia has made significant price adjustments to its CR-V, ZR-V, and HR-V SUVs in an attempt to improve sales. While the prices of the CR-V, HR-V, and ZR-V have been reduced, the Civic Type R has seen a price increase. It remains to be seen how these changes will impact Honda’s sales performance moving forward.
- Honda has lowered the price of the entry-level CR-V VTi X FWD by $1000.
- The HR-V is now available at a reduced price of $34,900 drive-away in Vi X petrol form.
- The ZR-V has also received a price cut, with the entry-level VTi X now priced from $39,500 drive-away.
- The Civic Type R hot hatch has seen a $1000 price increase.
- Despite the price adjustments, the SUVs no longer come with a seven-year warranty.
- Honda’s fixed pricing strategy has led to a decline in sales over the past two years.
- Honda has recorded an 18.9% sales increase in the first quarter of 2024.
With reduced prices for the CR-V, HR-V, and ZR-V SUVs, and a price bump for the Civic Type R, Honda Australia aims to boost its sales figures. However, the removal of the seven-year warranty and the brand’s switch to fixed pricing have had an impact on sales in recent years. Nevertheless, Honda has seen a promising 18.9% increase in sales in the first quarter of 2024. Will these changes help Honda regain its position in the market?
