Honda bumps up new Accord prices by $300

Honda Motor Co. said Monday that prices on the redesigned 2013 Accord sedan will increase, on average, by less than $300, even with the addition of thousands of dollars worth of standard features and technology.

Honda has overhauled its top-selling model for 2013 with new, more fuel-efficient engines, a continuously variable transmission, additional standard equipment and other available technology, such as lane departure warning and blind spot detection.

Pricing on the base Accord LX with manual transmission will increase by $200 to $22,470. The Accord LX with a new continuously variable transmission--expected to be the most popular model--will also increase by $200 to $23,270, Honda said.

LX models feature new standard equipment such as dual climate control, 16-inch alloy wheels, Bluetooth, rearview camera, USB connection, SMS text message function, a 160-watt AM/FM/CD audio system, and Pandora Internet radio compatibility, Honda said.

Prices include a $790 destination and handling charge.

The 2013 Accord sedan goes on sale Sept. 19. The Accord coupe will go on sale Oct. 15 with a starting price of $24,140 for the LX-S model.

Honda faces increased competition in a mid-sized sedan market it has helped define for nearly three decades.

Rivals Toyota, Nissan and Hyundai have introduced mid-sized sedans loaded with additional features and technology with little increase in price and generous lease deals. Chevrolet, Ford and Volkswagen are also fielding more competitive family sedans for the 2013 model year.

Honda is targeting annual U.S. sales of 350,000 for the new Accord. Sales of the Accord peaked at 414,718 in 2001.

"2012 is the year of the midsize sedan, and the new Accord will once again solidify Honda's position at the head of the pack," John Mendel, executive vice president of sales for American Honda, said in a statement.

Mid-sized sedans represent about 18.5 percent of industry sales this year through August, up from 17.5 percent in 2009. But Accord's share of the mid-sized car market has slipped to 12.2 percent this year from 15.7 percent in 2009, according to TrueCar.com.

To broaden the appeal of the Accord, Honda has added sport and touring models to the lineup for 2013.

The Accord Sport--targeting younger buyers--features 18-inch alloy wheels, fog lights, 10-way power driver's seat, a decklid spoiler, dual chrome exhaust tips, paddle shifters on models equipped with a CVT, and unique suspension and steering settings. It will be priced at $24,180, Honda said.

The top-of-the line touring model--marketed to rival some near-luxury sedans--is equipped with a V6 engine, 6-speed automatic transmission, navigation, LED headlights, leather seating and adaptive cruise control and will carry a sticker price of $34,220, Honda said.

By David Phillips- Automotive News