|Legal Name:||The Honda Motor Company, Ltd.|
|Headquarters Regions:||Minato City, Tokyo, Japan|
|Founded Date:||24 September 1948|
|Founders:||Soichiro Honda, Takeo Fujisawa|
|Number of Employees:||220000+|
|Area served:||United States of America and world|
|Products of Company:||multinational conglomerate manufacturer of automobiles, motorcycles, and power equipment|
|Net Worth in 2023:||$200 Billion|
Honda Motor Corporation, Ltd., headquartered in Minato, Tokyo, Japan, is a Japanese public corporate conglomerate that manufacturers cars, bicycles, and power equipment.
Honda has been the world’s largest motorcycle maker since 1959, with 400 million motorcycles produced by the end of 2019. It is now the world’s largest producer of internal combustion engines by number, with over 14 million engines produced per year. In 2001, Honda overtook Toyota as Japan’s second-largest automaker. In 2015, Honda was the world’s eighth largest car maker.
Honda was the first Japanese automaker to launch an exclusive premium model, Acura, in 1986. Honda also makes garden machinery, marine motors, personal watercraft, and power generators, among other things, in addition to their main car and motorcycle businesses.
Honda has been researching artificial intelligence and robotics since 1986, and their ASIMO robot was published in 2000. With the establishment of GE Honda Aero Engines in 2004 and the Honda HA-420 HondaJet, which started development in 2012, they have also ventured into aerospace. Dongfeng Honda and Guangqi Honda are two Honda joint ventures in China.
Well, how well do you know about Honda? If not much, here is what we know about Honda to date.
Soichiro Honda, the father of Honda, was fascinated with cars throughout his life. He worked as a mechanic at Art Shokai’s garage, where he tuned cars and raced them. Honda formed Tokai Seiki (Eastern Sea Precision Machine Company) in 1937 with funding from a friend, Kato Shichir, to create piston rings out of the Art Shokai garage.
The 1949 D-Type, the first Honda to bear the name Dream, was the first complete motorcycle with a Honda frame and engine. Honda earned the first Grand Prix wins and World Championships in the 125cc and 250cc classes in 1961. Honda Motor Corporation expanded exponentially to become the world’s largest maker of vehicles in a brief period of time.
The T360 mini pick-up truck, which went on sale in August 1963, was Honda’s first production vehicle. It was known as a Kei car because it was powered by a compact 356cc straight-4 gasoline engine. The S500 sports car, which succeeded the T360 into development in October 1963, was Honda’s first production car. Honda’s motorcycle roots were evident in the rear wheels, which were chain-driven.
Honda worked hard over the next few decades to extend its product portfolio as well as its activities and shipments to a variety of countries around the world. Honda founded the Honda Aircraft Company in 2006 as a wholly owned subsidiary to produce and market the HondaJet family of aircraft.
Honda and Hitachi were confirmed to be in talks in October 2019 to combine their car parts firms, forming a components’ provider of about $17 billion in annual sales. Due to the COVID-19 pandemic, Honda announced in January 2020 that it will be removing workers from Wuhan, Hubei, China.
On March 23, 2020, Honda became the first major automaker with operations in the United States to halt manufacturing in its factories due to the virus’s global expansion. On May 11, 2020, it resumed production of cars, engines, and transmissions at its US factories.
Honda and General Motors announced a North American agreement in September 2020, with production set to begin in 2021. “The planned partnership would entail sharing a variety of cars, to be sold under each company’s distinct names, as well as collaboration in buying, research and production, and connected facilities,” according to The Detroit Free Press.
Honda has experimented with a wide range of products and has been successful in doing so. The Honda T360, a kei car truck made for the Japanese market, launched Honda’s automobile manufacturing aspirations in 1963. Honda has been the biggest motorcycle producer in Japan since 1955, when it first began manufacturing. Honda produced almost three million motorcycles a year at its peak in 1982. Recon, Rubicon, Rancher, Foreman, and Rincon are some of Honda’s utility ATV models. Honda power equipment sold 6.4 million units in 2007, a new high.
The entire 33-car starting field of the 2010 Indianapolis 500 was fuelled by Honda engines, and the Memorial Day Classic saw no engine-related retirements for the fifth consecutive year. Asimo is part of Honda’s robotics research and development group, and at 54 kilograms and 130 centimeters long, he can walk on two feet in a way that is similar to human locomotion.
Honda’s HA-420 HondaJet, manufactured by its subsidiary Honda Aircraft Company, has also pioneered new technologies. Honda has provided engines to Formula One teams such as Red Bull, Toro Rosso, and McLaren.
Awards & Achievements
- Honda is one of the biggest and most efficient car manufacturers in the world. The reputation of the company precedes itself. Therefore, it goes without any doubt that over the years they’ve won so many awards. In the list below, you’ll see a handful of awards won by the company in 2019.
- 2019 Honda Accord: Best Car.
- 2019 Honda CR-V: Best Utility Vehicle.
- 2019 Honda Civic: Best Compact.
- 2019 Honda Fit: Best Hatchback.
- 2019 Honda Accord: Best Sedan.
Net Worth & Earnings of Honda in 2023
Honda is listed as the 8th biggest car manufacturer in the world today. The market capitalization of a company is usually calculated by multiplying the current stock price by the number of outstanding securities. As of 2023, the company has an estimated net worth of $200 Billion.
It is definitely clear that Honda has undoubtedly established itself as one of the biggest car manufacturers in the world today. It competes with some other big car manufacturers like Toyota, Ford and Tesla. We look forward to the new mind-blowing products of Honda in the near future.