The Name Honda recently became a trending topic due to the news of a potential merger with Nissan. The union of both companies could create a massive Japanese automotive cluster.
Both brands are among the most recognized worldwide in the vehicle sector.
Below, we’ll tell you more about Honda’s history, its most notable achievements, and some key details that have cemented its prestige over the years:
Meaning of the Word Honda in Japanese
The term “Honda” comes from the surname of its founder, Soichiro Honda.
In Japanese, this word can be interpreted as “rice field,” a common reference in Japanese culture tied to nature and agricultural productivity. However, in the context of the brand, rather than referring to a literal meaning, it has become a symbol of technological innovation, quality, and reliability in vehicle production.
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What is Honda’s Motto?
Honda’s motto reflects its philosophy centered on continuous improvement and a commitment to excellence. The brand’s current slogan is “The Power of Dreams.”
This motto embodies Soichiro Honda’s vision, who believed in the power of dreams to drive progress. The company has used this slogan as a way to communicate its focus on creating innovative products that enhance people’s lives, leveraging the power of creativity and ambition.
Who Owns Honda Today? And Who Is Its Current CEO?
Honda Motor Co., Ltd. is a public company, which means it does not have a single “owner” but is owned by numerous shareholders. Honda’s shares are traded on stock exchanges in Tokyo, New York, and other cities around the world.
While there is no single majority owner, Honda’s main institutional shareholders include:
- Japan Trustee Services Bank: This Japanese financial institution holds a significant portion of Honda’s shares.
- The Master Trust Bank of Japan: Another major Japanese bank with a large stake in Honda.
- Chase Manhattan Bank: The U.S. banking giant also holds Honda shares in its portfolio.
- Tokio Marine: Another Japanese insurance company among Honda’s key shareholders.
- These institutional shareholders, along with many other individual and institutional investors, collectively “own” Honda.
As for the company’s leadership, the current CEO of Honda Motor Co., Ltd. is Toshihiro Mibe.
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Where Are Honda Cars From?
Honda originates from Japan. It was founded in 1948 in Hamamatsu, a city known for its focus on engineering and innovation. Although it initially focused on manufacturing motorcycles, it quickly expanded into automobile production.
Today, Honda has manufacturing plants in various parts of the world, including the United States, Mexico, China, and several European nations. However, Japan remains the heart and birthplace of its business philosophy.
Honda’s History
- 1906: Soichiro Honda is born in a small village near Mount Fuji, Japan, as the son of a blacksmith. From a young age, he shows a fascination with machines and begins helping his father repair bicycles.
- 1922: At 16, Soichiro moves to Tokyo to work as a mechanic’s apprentice. After six years, he returns to his hometown and opens his own workshop.
- 1937: Soichiro establishes Tokai Seiki, a company dedicated to manufacturing piston rings. The company grows quickly but suffers damage during World War II and an earthquake.
- 1946: After selling the remnants of Tokai Seiki, Soichiro founds the Honda Technical Research Institute, where he begins developing motorized bicycles to meet Japan’s post-war mobility needs.
- 1947: Soichiro’s motorized bicycle evolves with the introduction of the Honda Type A, the first fully motorized bicycle designed by Honda.
- 1948: Soichiro Honda partners with Takeo Fujisawa to create Honda Motor Company. The company starts with 34 employees and focuses on motorcycle production.
- 1949: Launches its first fully developed motorcycle, the “Dream” D-type, marking a milestone in the company’s production.
- 1955: Becomes Japan’s largest motorcycle producer and soon becomes the world’s largest motorcycle manufacturer.
- 1958: Introduces the Super Cub, an affordable and efficient motorcycle that becomes the best-selling motorized vehicle in history.
- 1959: Opens its first overseas store in Los Angeles, USA, marking the beginning of its global expansion.
- 1963: Launches its first commercial vehicle, the T360, and its first sports car, the S500, entering the automotive industry.
- 1964: Enters Formula 1 and, in 1965, wins its first Grand Prix in Mexico.
- 1972: Introduces the Civic, a compact front-wheel-drive car that becomes one of the most successful vehicles in the world.
- 1976: Launches the Honda Accord, which quickly becomes a global success. The Accord was the brand’s first midsize sedan.
- 1982: Becomes the first Japanese brand to manufacture cars in the United States, establishing its factory in Ohio.
- 1986: Launches its luxury brand, Acura, in the United States, becoming the first Japanese manufacturer to create a premium division.
- 1989: Develops the VTEC system, which improves engine performance and efficiency, a key technology in the automotive industry.
- 1999: Launches the Insight, its first hybrid electric vehicle, ahead of the trend for eco-friendly cars.
- 2000: Introduces ASIMO, the first advanced humanoid robot, showcasing its innovation beyond automobiles.
- 2015: The HondaJet becomes a reality. Soichiro Honda’s dream of creating a private jet is fulfilled with the launch of the HondaJet.
- 2017: New Honda NSX and Nürburgring record. Relaunches the NSX, a hybrid supercar, and sets a new Nürburgring record with the Civic Type R.
- 2018: Celebrates 70 years of history, solidifying its position as a global leader in motorcycles and cars.
- 2022: Sells 3.3 million cars. Despite global challenges, Honda remains one of the most successful automotive brands, with millions of vehicles sold worldwide.
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What Are Honda’s Most Famous Cars?
The brand boasts a long list of iconic models that have left a mark in the automotive industry. Some of the most notable include:
- Civic: A versatile and reliable compact car that has been a best-seller for decades.
- Accord: A spacious and comfortable sedan that has earned a reputation as one of the most reliable cars on the market.
- CR-V: A pioneering compact SUV that combines practicality with excellent road performance.
- NSX: A supercar that proved the brand could compete with the best in the world.
What Is Honda’s Luxury Brand?
Honda’s luxury brand is Acura, launched in 1986 as a strategy to compete in the premium car segment, primarily in the United States and Canada. Acura is known for offering vehicles with advanced technological features, sophisticated design, and a focus on performance.
What Is Honda’s Best Model?
Determining Honda’s best model can depend on the perspective. However, the Civic is frequently recognized as one of the brand’s best cars due to its combination of efficiency, reliability, and value over time. The Accord is also highly regarded, especially for its durability and interior space.
What Is the Difference Between Honda and Acura?
Although both brands belong to the same company, Honda and Acura target different market segments. Honda focuses on offering practical, reliable, and affordable vehicles for the general public, while Acura is positioned as a luxury brand, offering vehicles with higher levels of performance, technology, and refinement.
What Does Acura Mean?
The name “Acura” is derived from the Latin word “acu,” which means “precise” or “accurate.” This name reflects the brand’s commitment to precision in engineering and manufacturing.
Current Statistics and Data About Honda
- Sold around 3.3 million cars worldwide in 2022.
- SUVs accounted for 57% of Honda’s global revenue in 2022.
- Total revenue was $91 billion USD in 2022.
- The global passenger car market generated total revenue of $1.7 trillion USD in 2022.
- Honda’s global revenue market share was 5.34% in 2022.
- China is Honda’s largest market, with a 7.9% revenue market share.
- In Japan, it achieved its highest revenue market share at 15.2%.
- The small car market accounted for 5% of Honda’s revenue in 2022.
- Passenger car sales in the U.S. will decline at a compound annual growth rate (CAGR) of 3.2% through 2028.
- In Europe, Honda’s passenger car sales also declined, with a CAGR of 2% between 2015 and 2028.
- Sales in China grew at a 2% CAGR between 2015 and 2028.
- The midsize car market accounted for 16% of global revenue in 2022.
- Large cars accounted for 14% of global revenue in 2022.
- Achieved a 6.9% revenue share in the SUV market in 2022.
- 95% of cars sold in 2022 were digitally connected.
- In 2022, cars sold in Europe emitted an average of 54 grams of CO2 per kilometer.
- Honda projects to equip two-thirds of its cars with electric engines by 2025.
- The minivan market accounted for 9% of revenue in 2022.
- In 2022, sold 1.03 million cars in China.
- Honda’s SUV prices in China were 27% higher than the market average in 2022.
