If Honda had introduced a brand new car in each class now , that the Fiesta ( Mazda 2 ), Elantra and Sonata are in , sales would be alot stronger as Mitlov mentioned .
The second-generation Fit was introduced for model year 2009. It's barely two years old, yet for some reason is left out of every discussion of "why don't Honda's newer designs sell well?" No company is going to introduce a whole new model every single time that one of its competitors introduces a new model. Also, while I preferred the way the Fiesta drove and appreciated its sound insulation, the Fit offered FAR more usable space for a comparable price and exterior size. It's not outclassed by the Fiesta and Mazda2, just different.
A new Civic will be on dealer lots about 6-9 months after the new Elantra and Focus hit dealer lots (i.e., late 2011 as a 2012 model). It's not like they're planning on keeping the current model around for years.
The Accord isn't exactly ancient. New in 2008 and facelifted in 2010, with a new model scheduled for 2012. Typical five-year cycle. It just so happens that some competitors are on a different five-year cycle, so their new cars come out as the Honda ages...but then the tables will be turned in three years, and so on, and so on.