The auto industry is vastly changing.  In a time of economic crisis that has seen high gas prices and falling homes values, the auto industry seems to be reshaping.  This poses good news for Honda, which is rated one of the top automakers in fuel economy and overall value.  For other automakers, it represents even more problems.

According to CNBC,“It’s getting hard to find a car to lease these days.  Chrysler’s financial arm recently pulled out of car leasing business, and Ford Motor Credit, GMAC and many large banks also have announced pullbacks.”  Automotive News is reporting that “General Motors is postponing all of its spending on product development in 2009 and 2010, a move that could delay the introduction of key vehicles.”  This comes as no surprise for automakers who have built their name on SUV and truck sales.  According to CNBC, “Residual values of trucks and SUVS coming off leases, has fallen as much as 20% the last few months, forcing these automakers to ditch the idea of leasing vehicles.”  GMAC has gone as far as publicly announcing that they will not finance anyone under a 700 credit score on new vehicles.

Honda as we know has remained committed to mid size and compact vehicles that offer outstanding fuel economy.  By doing so, they have positioned themselves well ahead of other automakers.   Their ability to change around their factories to meet demands of consumers for fuel efficient vehicles has allowed them to rise to the top of the auto industry in this economic crisis.  Consumers are looking for more flexibility and options in terms of acquiring vehicles. They are looking for low rates and payments, as well as financing over a long period of time. Honda’s flexibility allows them to offer some of the most aggressive lease specials.

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