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51-599: The Honda Prize is awarded by the Honda Foundation. It is awarded for "the efforts of an individual or group who contribute new ideas which may lead the next generation in the field of ecotechnology". It is sometimes referred to as the "Nobel Prize in Technology" since it has put a spotlight on achievements in a variety of fields based on a wide perspective in the future, including two Turing -awarded artificial intelligence accomplishments. The prize consists of

102-406: A 2-day week until the end of May as the manufacturer struggled to source supplies from Japan. It's thought around 22,500 cars were produced during this period. For the fiscal year 2018, Honda reported earnings of US$ 9.534 billion, with an annual revenue of US$ 138.250 billion, an increase of 6.2% over the previous fiscal cycle. Honda's shares traded at over $ 32 per share, and its market capitalization

153-829: A developer studio are part of the Honda Innovations group, formed in Spring 2017 and based in Mountain View, California . Through Honda Mobilityland , Honda also operate the Suzuka Circuit and Twin Ring Motegi racing tracks. Following the 2011 Tohoku earthquake and tsunami in Japan, Honda announced plans to halve production at its UK plants. The decision was made to put staff at the Swindon plant on

204-663: A diploma, medal, and a reward of 10 million yen. Honda Honda Motor Co., Ltd. ( Japanese : 本田技研工業株式会社 , Hepburn : Honda Giken Kōgyō Kabushiki gaisha , lit.   ' Honda Institute of Technology and Industry Joint-Stock Company ' , IPA: [honda] ; / ˈ h ɒ n d ə / ) is a Japanese multinational conglomerate that manufactures automobiles, motorcycles, and battery-powered equipment, founded in October 1946 by Soichiro Honda and headquartered in Minato, Tokyo , Japan. Honda has been

255-646: A global recall of about 4.5 million vehicles, including 2.54 million in the U.S., over fuel pump failures, following earlier recalls in 2021 and 2020 for the same issue. Honda is headquartered in Minato, Tokyo , Japan. Their shares trade on the Tokyo Stock Exchange and the New York Stock Exchange , as well as exchanges in Osaka, Nagoya, Sapporo, Kyoto, Fukuoka , London , Paris, and Switzerland. The company has assembly plants around

306-671: A mechanic at the Art Shokai garage, where he tuned cars and entered them in races. In 1937, with financing from his acquaintance Kato Shichirō, Honda founded Tōkai Seiki (Eastern Sea Precision Machine Company) to make piston rings working out of the Art Shokai garage. After initial failures, Tōkai Seiki won a contract to supply piston rings to Toyota , but lost the contract due to the poor quality of their products. After attending engineering school without graduating, and visiting factories around Japan to better understand Toyota's quality control processes known as " Five whys ", by 1941 Honda

357-520: A small 356 cc straight-4 gasoline engine, it was classified under the cheaper Kei car tax bracket. The second production car from Honda was the S500 sports car, which followed the T360 into production in October 1963. Its chain-driven rear wheels pointed to Honda's motorcycle origins. Over the next few decades, Honda worked to expand its product line, operations and exports to numerous countries around

408-851: Is based in Alliston, Ontario . Honda has also created joint ventures around the world, such as Honda Siel Cars and Hero Honda Motorcycles in India, Guangzhou Honda and Dongfeng Honda in China, Boon Siew Honda in Malaysia and Honda Atlas in Pakistan. The company also runs a business innovation initiative called Honda Xcelerator , in order to build relationships with innovators, partner with Silicon Valley startups and entrepreneurs, and help other companies work on prototypes. Xcelerator had worked with reportedly 40 companies as of January 2019. Xcelerator and

459-668: The Boston Consulting Group (BCG) was commissioned by the UK government to write a report explaining why and how the British motorcycle industry had been out-competed by its Japanese competitors. The report concluded that the Japanese firms, including Honda, had sought a very high scale of production (they had made a large number of motorbikes) in order to benefit from economies of scale and learning curve effects. It blamed

510-863: The Civic GX as the greenest car in America for seven consecutive years. Honda currently builds vehicles in factories located in Japan, the United States of America, Canada, China, Pakistan, the United Kingdom, Belgium, Brazil, Indonesia, India, Thailand, Turkey, Argentina, Mexico, Taiwan, and the Philippines. Honda is the largest motorcycle manufacturer in Japan and has been since it started production in 1955. At its peak in 1982, Honda manufactured almost three million motorcycles annually. By 2006, this figure had been reduced to around 550,000 but

561-713: The Fit and Accord. Honda's first hybrid electric vehicle was the 1999 Insight . The Civic was first offered as a hybrid in 2001, and the Accord followed in 2004. In 2008, the company launched the Clarity , a fuel cell car . In 2008, Honda increased global production to meet the demand for small cars and hybrids in the U.S. and emerging markets. The company shuffled U.S. production to keep factories busy and boost car output while building fewer minivans and sport utility vehicles as light truck sales fell. Its first entrance into

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612-680: The Imperial Japanese Army . The company was renamed Nakajima Aircraft Company in 1919. The company's manufacturing facilities were: After Japan's defeat in World War II , the company was forced to close, as the production and research of aircraft was prohibited by the Supreme Commander for the Allied Powers . This had a severe impact on Nakajima as one of the two largest aircraft manufacturers in Japan;

663-553: The Accord and Civic (with the exception of its USA-market 1993–97 Passport which was part of a vehicle exchange program with Isuzu (part of the Subaru-Isuzu joint venture)) have always employed Front-wheel drive powertrain implementation, which is currently a long-held Honda tradition. Honda also installed new technologies into their products, first as optional equipment, then later standard, like anti-lock brakes , speed-sensitive power steering , and multi-port fuel injection in

714-650: The Civic is the second-longest continuously running nameplate from a Japanese manufacturer; only its perennial rival, the Toyota Corolla , introduced in 1966, has been in production longer. The Civic, along with the Accord and Prelude , comprised Honda's vehicles sold in North America until the 1990s, when the model lineup was expanded. Having gone through several generational changes, the Civic has become larger and more upmarket , and it currently slots between

765-473: The U.S. market was a story of "miscalculation, serendipity, and organizational learning" – in other words, Honda's success was due to the adaptability and hard work of its staff, rather than any long-term strategy. For example, Honda's initial plan on entering the US market was to compete in large motorcycles, around 300 cc. Honda's motorcycles in this class suffered performance and reliability problems when ridden

816-587: The US to suspend production in its factories. It resumed automobile, engine and transmission production at its US plants on 11 May 2020. Honda and General Motors announced in September 2020 a North American alliance to begin in 2021. According to The Detroit Free Press, "The proposed alliance will include sharing a range of vehicles, to be sold under each company's distinct brands, as well as cooperation in purchasing, research and development, and connected services." In 2021, Honda announced its intention to become

867-407: The US. Honda power equipment includes: Nakajima Aircraft Company The Nakajima Aircraft company was Japan's first aircraft manufacturer, and was founded in 1918 by Chikuhei Nakajima , a naval engineer, and Seibei Kawanishi , a textile manufacturer, as Nihon Hikoki (Nippon Aircraft) . In 1919, the two founders split and Nakajima bought out Nihon Aircraft's factory with tacit help from

918-476: The United States and Canada due to an issue with seat belts in the car not latching correctly. Among the models recalled were the 2017-2020 CR-V, the 2018 and 2019 Accord, the 2018-2020 Odyssey, the 2019 Insight, and the Acura RDX from 2019 and 2020. According to the recall, the seat belts in the front seats would break open on impact increasing the risk of injury in a crash. On 21 December 2023, Honda announced

969-459: The air-cooled N360, called the Honda Life , which was water-cooled. The Honda Life represented Honda's efforts in competing in the kei car segment, offering sedan, delivery van and small pick-up platforms on a shared chassis. The Life Step Van had a novel approach that, while not initially a commercial success, appeared to be an influence to vehicles with the front passengers sitting behind

1020-518: The air-cooled, four-cylinder, gasoline-powered Honda 1300 which was introduced in 1969. The Civic was a hatchback that gained wide popularity internationally, but it wasn't the first two-door hatchback built by Honda. That was the Honda N360 , a Kei car that was adapted for international sale as the N600. The Civic, which appeared in 1972 and replaced the N600 also had a smaller sibling that replaced

1071-596: The company. Honda also aided the war effort by assisting other companies in automating the production of military aircraft propellers. The relationships Honda cultivated with personnel at Toyota, Nakajima Aircraft Company and the Imperial Japanese Navy would be instrumental in the postwar period. A US B-29 bomber attack destroyed Tōkai Seiki's Yamashita plant in 1944, and the Itawa plant collapsed on 13 January 1945 Mikawa earthquake . Soichiro Honda sold

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1122-515: The decline of the British motorcycle industry on the failure of British managers to invest enough in their businesses to profit from economies of scale and scope . The second explanation was offered in 1984 by Richard Pascale, who had interviewed the Honda executives responsible for the firm's entry into the U.S. market. As opposed to the tightly focused strategy of low cost and high scale that BCG accredited to Honda, Pascale found that their entry into

1173-681: The desire to create a more environmentally friendly company image. The Honda Aircraft Company as established in 2006 as a wholly owned subsidiary to manufacture and sell the HondaJet family of aircraft. The first deliveries to customers began in December 2015. On 23 February 2015, Honda announced that CEO and President Takanobu Ito would step down and be replaced by Takahiro Hachigo in June of that year; additional retirements by senior managers and directors were expected. In October 2019, Honda

1224-517: The early 1980s. This desire to be the first to try new approaches is evident with the creation of the first Japanese luxury chain Acura , and was also evident with the all-aluminum, mid-engined sports car, the Honda NSX , which also introduced variable valve timing technology, which Honda calls VTEC . The Civic family is a line of compact cars developed and manufactured by Honda. In North America,

1275-445: The engine, a large cargo area with a flat roof and a liftgate installed in back, and utilizing a transversely installed engine with a front-wheel-drive powertrain. As Honda entered into automobile manufacturing in the late 1960s where Japanese manufacturers such as Toyota and Nissan had been making cars since before WWII, Honda instilled a sense of doing things a little differently than its Japanese competitors. Its mainstay products like

1326-668: The engines ran out, Honda began building their own copy of the Tohatsu engine, and supplying these to customers to attach to their bicycles. This was the Honda A-Type, nicknamed the Bata Bata for the sound the engine made. In 1949, the Honda Technical Research Institute was liquidated for ¥ 1,000,000, or about US$ 5,000 today; these funds were used to incorporate Honda Motor Co., Ltd. At about

1377-725: The establishment of GE Honda Aero Engines in 2004 and the Honda HA-420 HondaJet , which began production in 2012. Honda has two joint-ventures in China: Dongfeng Honda and GAC Honda . In 2013, Honda invested about 5.7% (US$ 6.8 billion) of its revenues into research and development. Also in 2013, Honda became the first Japanese automaker to be a net exporter from the United States, exporting 108,705 Honda and Acura models, while importing only 88,357. Throughout his life, Honda's founder, Soichiro Honda (1906–1991), had an interest in automobiles. He worked as

1428-506: The first Honda to go by the name Dream. In 1961, Honda achieved its first Grand Prix victories and World Championships in the 125 cc and 250 cc categories. Honda Motor Company grew in a short time to become the world's largest manufacturer of motorcycles by 1964. The first production automobile from Honda was the T360 mini pick-up truck, which went on sale in August 1963. Powered by

1479-511: The first-generation Odyssey and the CR-V , and a refocusing away from some of the numerous sedans and coupes that were popular with the company's engineers but not with the buying public. The most shocking change to Honda came when Kawamoto ended the company's successful participation in Formula One after the 1992 season, citing costs in light of the takeover threat from Mitsubishi as well as

1530-464: The globe. These plants are located in China, the United States, Pakistan, Canada, England, Japan, Belgium, Brazil, México, New Zealand, Malaysia, Indonesia, India, Philippines, Thailand, Vietnam, Turkey, Taiwan, Perú and Argentina. As of July 2010, 89% of Honda and Acura vehicles sold in the United States were built in North American plants, up from 82.2% a year earlier. This shields profits from

1581-543: The models TRX 90X, TRX 250X, TRX 400x, TRX 450R and TRX 700. Power equipment production started in 1953 with H-type engine (prior to motorcycles). Honda power equipment reached record sales in 2007 with 6.4 million units sold annually. By 2010 ( Fiscal year ended 31 March) this figure had decreased to 4.7 million units. Cumulative production of power products has exceeded 85 million units annually (as of September 2008). In September 2023, Honda ceased sales of gasoline lawn mowers and some other power equipment in

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1632-1258: The pickup segment, the light-duty Ridgeline, won Truck of the Year from Motor Trend magazine in 2006. Also in 2006, the redesigned Civic won Car of the Year from the magazine, giving Honda a rare double win of Motor Trend honors. It is reported that Honda plans to increase hybrid sales in Japan to more than 20% of its total sales in the fiscal year 2011, from 14.8% in the previous year. Five of United States Environmental Protection Agency 's top ten most fuel-efficient cars from 1984 to 2010 come from Honda, more than any other automakers. The five models are: 2000–2006 Honda Insight (53 mpg ‑US or 4.4 L/100 km or 64 mpg ‑imp combined), 1986–1987 Honda Civic Coupe HF (46 mpg ‑US or 5.1 L/100 km or 55 mpg ‑imp combined), 1994–1995 Honda Civic hatchback VX (43 mpg ‑US or 5.5 L/100 km or 52 mpg ‑imp combined), 2006– Honda Civic Hybrid (42 mpg ‑US or 5.6 L/100 km or 50 mpg ‑imp combined), and 2010– Honda Insight (41 mpg ‑US or 5.7 L/100 km or 49 mpg ‑imp combined). The ACEEE has also rated

1683-538: The relatively long distances of the US highways. When the team found that the scooters they were using to get themselves around their U.S. base of San Francisco attracted positive interest from consumers they fell back on selling the Super Cub instead. The most recent school of thought on Honda's strategy was put forward by Gary Hamel and C. K. Prahalad in 1989. Creating the concept of core competencies with Honda as an example, they argued that Honda's success

1734-417: The release of the first EVs scheduled for 2026 in the US under the "Afeela" brand. On 2 February 2023, Honda announced a deal with American car company General Motors to produce cars using a new hydrogen fuel system. The aim is to ramp up the hydrogen powered cells in their Electric vehicles as well as trucks, construction machinery, and power stations. On 15 March 2023, Honda recalled 500,000 vehicles in

1785-403: The salvageable remains of the company to Toyota after the war for ¥450,000 and used the proceeds to found the Honda Technical Research Institute in October 1946. With a staff of 12 men working in a 16 m (170 sq ft) shack, they built and sold improvised motorized bicycles , using a supply of 500 two-stroke 50 cc Tohatsu war surplus radio generator engines . When

1836-402: The same time Honda hired engineer Kihachiro Kawashima, and Takeo Fujisawa who provided indispensable business and marketing expertise to complement Soichiro Honda's technical bent. The close partnership between Soichiro Honda and Fujisawa lasted until they stepped down together in October 1973. The first complete motorcycle with both the frame and engine made by Honda was the 1949 D-Type ,

1887-403: The second was Mitsubishi Heavy Industries (MHI). Unlike MHI, Nakajima did not diversify into shipbuilding and general machinery, and so was forced to dissolve into a number of spin-off companies set up by its former managers, engineers, and workers. As a result, leading aeronautical engineers from the company, such as Ryoichi Nakagawa , helped transform Japan's automobile industry. The company

1938-409: The slogan " You meet the nicest people on a Honda ." In contrast to the prevailing negative stereotypes of motorcyclists in America as tough, antisocial rebels, this campaign suggested that Honda motorcycles were made for the everyman. The campaign was hugely successful; the ads ran for three years, and by the end of 1963 alone, Honda had sold 90,000 motorcycles. Taking Honda's story as an archetype of

1989-417: The smaller manufacturer entering a new market already occupied by highly dominant competitors, the story of their market entry, and their subsequent huge success in the U.S. and around the world has been the subject of some academic controversy. Competing explanations have been advanced to explain Honda's strategy and the reasons for their success. The first of these explanations was put forward when, in 1975,

2040-464: The successful establishment of Honda of America Manufacturing, Inc. in Marysville, Ohio . Irimajiri and Kawamoto shared a friendly rivalry within Honda; owing to health issues, Irimajiri would resign in 1992. Following the death of Soichiro Honda and the departure of Irimajiri, Honda found itself quickly being outpaced in product development by other Japanese automakers and was caught off-guard by

2091-537: The truck and sport utility vehicle boom of the 1990s, all which took a toll on the profitability of the company. Japanese media reported in 1992 and 1993 that Honda was at serious risk of an unwanted and hostile takeover by Mitsubishi Motors , which at the time was a larger automaker by volume and was flush with profits from its successful Pajero and Diamante models. Kawamoto acted quickly to change Honda's corporate culture, rushing through market-driven product development that resulted in recreational vehicles such as

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2142-484: The world's first carmaker to sell a vehicle with level 3 self-driving technology. In March 2022, Honda announced it would develop and build electric vehicles in a joint venture with electronics giant Sony . The latter is set to provide its imaging, sensing, network and other technologies while Honda would be responsible for the car manufacturing processes. The Sony Honda Mobility company was officially announced on 13 October 2022 with pre-orders said to open in 2025 and

2193-427: The world's largest motorcycle manufacturer since 1959, reaching a production of 400 million by 19 December 2019. It is also the world's largest manufacturer of internal combustion engines measured by volume, producing more than 14 million internal combustion engines each year. Honda became the second-largest Japanese automobile manufacturer in 2001. In 2015, Honda was the eighth largest automobile manufacturer in

2244-478: The world. Honda was the first Japanese automobile manufacturer to release a dedicated luxury brand, Acura , on 27 March 1986. Aside from their core automobile and motorcycle businesses, Honda also manufactures garden equipment, marine engines, personal watercraft , power generators, and other products. Since 1986, Honda has been involved with artificial intelligence/robotics research and released their ASIMO robot in 2000. They have also ventured into aerospace with

2295-507: The world. In 1986, Honda introduced the successful Acura brand to the American market in an attempt to gain ground in the luxury vehicle market. The year 1991 saw the introduction of the Honda NSX supercar, the first all-aluminum monocoque vehicle that incorporated a mid-engine V6 with variable-valve timing . In 1990, CEO Tadashi Kume was succeeded by Nobuhiko Kawamoto . Kawamoto was selected over Shoichiro Irimajiri , who oversaw

2346-593: The yen's advance to a 15-year high against the dollar. American Honda Motor Company is based in Torrance, California . Honda Racing Corporation (HRC) is Honda's motorsport division. Honda Canada Inc. is headquartered in Markham, Ontario , it was originally planned to be located in Richmond Hill, Ontario , but delays led them to look elsewhere. Their manufacturing division, Honda of Canada Manufacturing ,

2397-522: Was able to mass-produce piston rings acceptable to Toyota, using an automated process that could employ even unskilled wartime laborers. Tōkai Seiki was placed under the control of the Ministry of Commerce and Industry (called the Ministry of Munitions after 1943) at the start of World War II, and Soichiro Honda was demoted from president to senior managing director after Toyota took a 40% stake in

2448-523: Was due to its focus on leadership in the technology of internal combustion engines. For example, the high power-to-weight ratio engines Honda produced for its racing bikes provided technology and expertise which was transferable into mopeds. Honda's entry into the U.S. motorcycle market during the 1960s is used as a case study for teaching introductory strategy at business schools worldwide. Honda builds utility ATVs under models Recon, Rubicon, Rancher, Foreman and Rincon. Honda also builds sports ATVs under

2499-490: Was reported to be in talks with Hitachi to merge the two companies' car parts businesses, creating a components supplier with almost $ 17 billion in annual sales. In January 2020, Honda announced that it would be withdrawing employees working in the city of Wuhan , Hubei , China due to the COVID-19 pandemic . On 23 March 2020 due to the global spread of the virus, Honda became the first major automaker with operations in

2550-452: Was still higher than its three domestic competitors. In 2017, India became the largest motorcycle market for Honda. In India, Honda is leading in the scooters segment, with 59% market share. During the 1960s when it was a small manufacturer, Honda broke out of the Japanese motorcycle market and began exporting to the United States. Working with the advertising agency Grey Advertising , Honda created an innovative marketing campaign, using

2601-654: Was valued at US$ 50.4 billion in October 2018. Honda's automotive manufacturing ambitions can be traced back to 1963, with the Honda T360 , a Kei truck built for the Japanese market. This was followed by the two-door roadster , the Honda S500 also introduced in 1963. In 1965, Honda built a two-door commercial delivery van, named the Honda L700 . Honda's first four-door sedan was not the Honda Accord , but

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