Honda says little increase in new Accord prices

DETROIT, Aug 14 Reuters reported that prices on Honda Motor Co.'s top-selling Accord cars will increase less than 2 percent, or roughly $500, for the 2003 models even as the company adds new equipment, Honda executives said on Wednesday.

Tom Elliott, Honda's executive vice president of North American auto operations, said prices for the redesigned 2003 Accord sedan and coupe would range from under $20,000 for a base DX sedan to about $26,000 for a V6-powered EX coupe. He said Honda had added $700 to $1,500 worth of technology on the redesigned models to help keep Accord sales at roughly 400,000 vehicles a year.

The Accord has been a perennial best-seller in the United States, dominating the mid-size car market along with Toyota Motor Corp.'s Camry. But Honda executives said they were concerned the Accord had grown too conservative, and was not appealing to younger buyers.

"We're very lucky to have a loyal base of Accord customers who will buy the car again and again," said Charlie Baker, the Accord's executive chief engineer. "But ... we have to go back to a time when we surprised every one."

The '03 Accords, which will go on sale next month, offer more power and better fuel economy than previous models, with the V6 engine matching the class-leading 240 horsepower from Nissan Motor Co. Ltd.'s Altima. The interior has been redesigned for a more luxurious feel, with more high-tech touches like an optional navigation system.

And Honda says the new Accord should get top scores in all U.S. federal crash tests and an insurance industry test -- a distinction it would share with the Honda Civic small car and Volvo's S80 luxury sedan.

Honda also showed off production versions of the Element, a small sport utility vehicle designed for young men. Elliott said the Element would carry prices roughly between $16,000 and $21,000, and that Honda expected to sell at least 50,000 next year.