Honda Adds to Trophy Cabinet

TULLAMARINE, AUSTRALIA – December 10, 2009: Honda has continued its winning form in the United States taking home multiple trophies in the 2009 ALG Residual Value Awards.

The Accord, Fit (Jazz in Australia) and Odyssey Minivan have been named as recipients in the 11th annual ALG Residual Value Awards, which honour the vehicles in each industry segment that ALG predicts will retain the highest percentage of their original price after a three-year period.

The Accord won the award in the Best Midsize Car category, the Fit was the winner in the Best Compact Car category and the Odyssey Minivan (with its body style unique to North America) prevailed in the Best Minivan category. Since 2001, the Honda brand has earned 20 model awards and six overall brand awards from ALG.

“In a challenging economy, residual value moves up on the list of buyer considerations,” said Mr. John Mendel, executive vice president of American Honda Motor Co., Inc. “These ALG awards once again recognise Honda’s commitment to offer high-quality products with long-term value.”

Acura, a division of American Honda Motor Company, was also awarded the Luxury Brand Residual Value Award for the second consecutive year.

“Acura has taken a different tack than most luxury brands and its decision to stick with front-wheel drive platforms and smaller engines has served it well in the current uncertain times,” said James Clark, General Manager of ALG.

“Acura’s outstanding reliability, simple packaging schemes and value pricing with low incentive levels were major factors in its repeat finish at the top of the luxury market this year,” he said.

The Accord and Fit were also recently named in Car and Driver Magazine’s prestigious and highly competitive annual “10 Best Cars” awards. The eigth-generation Accord has achieved “10Best” status 24 times in 28 years, more than any other vehicle in the award’s history. The Honda Fit has been honored with 10Best status in each of the four years that it has been on sale in the United States.

Honda continues to achieve widespread recognition from the industry and motoring journalists as a result of its ongoing commitment to innovation, sustainability and manufacturing excellence.

The company, which this year celebrates 60 years of success in Japan, 50 years in the U.S and 40 years in Australia, is expected to add to its already impressive trophy cabinet with the upcoming release of a number of new models, including the second-generation Honda Insight and a hybrid sports model based on the CR-Z concept