This is not a surprising bit of news and it is something we have been expecting. Sales of the Honda Accord have been slowing down and due to lack of demand the production has been stopped completely. The Honda Accord in its previous generation was the best seller in the D segment category and the being phased out shows the changing dynamics of the market place. There are two reasons for this and they are due to petrol only engine and entry of the German luxury car-makers in this space.
Due to being available in petrol only the Accord sales took a hit as petrol prices increased and this is also true for the others like the Toyota Camry. The bigger reason is the entry of the German luxury car-makers which invaded that space and the lure of these premium brands meant that buyers moved away from these cars.
The Skoda Superb is the only one in the segment which has been doing decent numbers due to the diesel engine. Honda for now will not launch the new Accord as it will focus on the Mobilio, new Jazz and other such volume products though in 2015 we can expect the new gen model to come here if the market dynamics dictate that move.