The Honda Motor Company, Limited, also shortened to Honda, is a multinational company with its headquarters in Japan. Honda is an engine manufacturer as well as an engineering corporation. It manufactures automobiles, motorcycles, marine engines, trucks, scooters, ATV, electrical generators, robots, lawn and garden equipment, jet and jet engines, and aeronautical and other mobile technologies. Honda ranks as the fifth largest automobile manufacturer as well as the largest engine – maker in the world. It produces more than fourteen million internal combustion engines every year. At the present, ranks behind Toyota and ahead of Nissan, making it the second largest manufacturer in Japan.
Honda was still a small manufacturer during the 1960s. Despite this, it broke out of the Japanese market and entered the U.S. market. Honda began exporting to the U.S., a market that was already occupied by highly dominant competitors. Honda was able to achieve huge success in the U.S. and around the world such that the story of their market entry into the U.S. is used in business schools worldwide as a case study for teaching introductory strategy. There have been numerous explanations given to explain and dissect the strategy of Honda and the reasons for their success. One report concluded that Honda sought a very high scale of production so that it could benefit from the economies of scale and learning curve effects. Another story attributed the success of Honda to miscalculation, serendipity and organizational learning. The most recent school of thought argued that the success of Honda was due to its leadership focus in the technology of internal combustion engines.
Over the years, Honda has produced numerous vehicles. For example, the Honda Ridgeline, a mid–size pick–up truck was awarded the Truck of the Year from Motor Trend magazine in the year 2006. The Honda Ridgeline is equipped with anti–lock brakes, a heated windshield and a four wheel drive locking mode. Another example is the Honda Accord, which has achieved considerable success especially in the U.S. The Honda Accord is a compact vehicle that has the best – selling Japanese cars for 20 years, from 1982 to 1997. The Honda Accord has reaped numerous awards including the Consumer Search’s Best Family Car in Family Sedans in July 2006, Motor Trend’s Import Car of Year for 1994 and Car and Driver’s ‘Recipient of 10 Best recognition for 21 of the last 25 years.’
Among the plans of Honda for the future include the production of a redesigned Honda Ridgeline this 2010 and a redesign of a new Honda Pilot in 2009. Honda has also announced three hybrid vehicles that are in the works. According to Honda, the new automobile will be the most affordable hybrid. It also has plans of introducing the hybrid version of Fit and another hybrid vehicle based on the CR–Z sports car concept.
With all these, Honda has definitely lived up to the power of dreams and to every automotive consumer’s dreams at that.
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