For the first time in the model's history, Honda developed two distinct versions of the Accord when the fifth-generation model was launched in the Fall of 1993; one version for the European market and one for the North American and Japanese market. Honda and the Rover Group created the European Accord and the Rover 600, a reflection of the past success they had with the Honda Legend and the Rover 800. This generation Accord was also sold in Japan as the Isuzu Aska, while some Isuzu products were sold as Honda products there also.

At its introduction in 1993, it won the Car of the Year Japan Award for the second time.