Why 2023 Honda Prices Are So High

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Managing Editor

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Managing Editor - October 20, 2022
2022 Honda Civic hatchback in blue

While new car prices are still at historic highs, Honda is making behind-the-scenes changes that will result in significantly higher prices for the coming year. Based on our analysis, the automaker is making a slew of changes to its 2023 lineup that is causing base prices to jump by as much as $4,300.

As we reported recently, the Honda Civic LX has been completely dropped from the lineup, raising the popular sedan's base price by $2,100. The cheapest 2023 Civic is now the Sport trim and starts at nearly $26,000. A company spokesman stated the Sport is the most popular Civic model with buyers.

2022 Honda CR-V Hybrid

As part of Honda's shift toward electrification, the redesigned 2023 CR-V is now offered in just 2 trims: EX and EX-L, unless you opt for a 2023 CR-V Hybrid. However, by discontinuing the CR-V LX, the base price has increased from $28,045 to $32,355. That's a price difference of $4,310 year-over-year.

But that's not all. The larger 2023 Honda Passport is going AWD-only. By discontinuing the FWD Passport, the model's base price is increasing by $2,730 to $42,395. Earlier this year, the 2023 Odyssey minivan dropped the LX trim, resulting in a $4,300 base price increase for the popular family hauler.

2023 Honda Passport TrailSport front

If you're a hybrid car buyer, it's worth knowing that the Honda Insight has been discontinued. As a result, the cheapest Honda hybrid is currently the Accord Hybrid with an MSRP of $28,815. The company says the Insight will be replaced by a new Civic Hybrid, though pricing has not yet been announced.

It's not unusual for car manufacturers to align vehicle choices with customer tastes. However, the sheer number of these changes coincides with a period of record-high transaction prices and rising interest rates. For now, there may be no relief for Honda buyers simply looking to buy an affordable new car.

Fortunately, there are some early 2023 Honda deals. The company is offering a $750 loyalty discount for returning lessees and has financing deals with rates as low as 2.9% APR. Dealer leasing bulletins show that 2023 CR-V residual values are quite good, suggesting it may be a very good SUV to lease.

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, Managing Editor

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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