The powerhouse Honda Accord has beefed up for 2008 in every way, including price. Honda has announced official pricing of $20,360 for its best-selling US product, and the base four-cylinder model is getting a hefty price hike of almost $1,500. Honda explains the larger-than-expected price bump by pointing out new features like Stability Assist & Trade, standard rear disc brakes, greater power across the entire model range, and features like an audio jack for an iPod. The top-end Accord Accord EX-L V6 Coupe prices out at $30,510 fully loaded, with features like a navigation screen and leather seats.

Executive vice president of American Honda Motor Co. Dick Colliver says the Accord "adds popular features and enhancements while maintaining competitive, value-oriented pricing on every model." While we agree that the 2008 Accord is definitely more powerful and larger in every way, it's hard to justify the large price jump for features that the competition already has. The Toyota Camry starts out $2,000 cheaper at $18,470, and the Ford Fusion is $2,500 less expensive. While it looked at first like the Accord just made the midsize market even better, now it looks like the Accord has moved up into Ford Taurus and Toyota Avalon territory, leaving a midsize hole in the Honda lineup. Heck, the Taurus comes standard with 263 HP, it ups the Accord with a six speed auto transmission, gets similar fuel economy, has available AWD, has great quality and safety, and starts at just over $23,000. Honda has a terrific reputation and even better engineering, but we think the company may one day regret its supersize strategy. Check out the full press release after the jump.

[Source: Honda]

Gallery: 2008 Honda Accord