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Honda Motor Company is a Japanese public multinational conglomerate. The organization is known for manufacturing automobiles, motorcycles, aircraft and power equipment. The company was founded and incorporated on 24th September, 1948. The founders were Mr. Soichiro Honda and Mr. Takeo Fujisawa. Honda is the second largest automobile manufacturer in Japan and the eight largest automobile manufacturer in the world.
In 2013, Honda became the first company to become a net exporter from the United States of America. Honda is considered as one of the most successful companies in the existing automobile market. With the latest technology and its ability to produce luxury cars, the company has developed a high brand value and brand image. It has around 150 production facilities in 30 countries and 31 research and development centers in 15 countries.
The company is achieving its objectives globally. More than 160,000 officials of the company provide services to 23 million customers every year. The founder of the company, Mr. Soichiro worked as a mechanic at a Japanese tuning shop since in his young age. He was a self-taught engineer and after his designs were rejected by Toyota, he established Honda after the Second World War. Honda also manufactures garden equipment, marine engines, personal watercrafts, powerful engines and other products. Honda has established itself in the automotive market by consistently improving its technology and generating huge revenues.
Honda is evolving constantly day by day as a company. The technological and innovation market of the company has generated myriad things which are contrasting and pleasing for the human eye. Honda has arrived late in updating its technology but it has duly conducted operations to grow in the electric motors market. Many innovations are recently invented by the company provide a great path for the company’s future. The company has highly efficient workforce and engineers who constantly develop new technologies to provide the best cars to the customers.
The Fuel Cell Powertrain Technology is as efficient as the car becomes. It increases the fuel efficiency of the car and gives a sustainable amount of power to the car for long distances. The Honda Sensing Technology senses the present of vehicles which are close to the car and also it spots any movable objects which can be dangerous while driving. This helps the driver to focus on driving and reduces the chances of accidents. Honda has started manufacturing electric cars. The cars are termed as zero emission vehicles which reduces the emission of harmful gases such as CO2 and other emissions which damages our atmosphere and causes pollution.
Honda launched the Clarity Electric car on December, 2016. It is powered by a 161 horsepower (120 kilowatt) electric motor producing 221 lb-ft of torque and drawing power from a 25.5 kWh lithium-ion battery pack. The vehicles can be fully charged in just three hours at 240 volts and when using DC fast charging with the SAE Combined Charging System, it can get 80 percent charge in 30 minutes. Another technology is the Plug-in Hybrid Powertrain Technology. The newer models of the company operate in three different driving modes, depending upon driving situation and is able to shift instantly without any problem which also optimizes the overall efficiency of the car.
The EV drive mode operates like an all electric vehicle- the engine is off and decoupled from the drive train to reduce friction. The coupled gasoline engine and generator motor produces electricity which is sent directly to traction motor or to the battery pack, depending upon driving situation and how much the battery is charged. In Engine Drive Mode, which is typically engaged when cruising from medium to high speed, the car functions as a parallel hybrid.
All these techno-innovations gives a greater dimension to the company. Certain aspects need improvement and the company knows about them. Honda has some good days ahead and proper functioning of the company will reap huge profits in the future. Honda conducts a high amount of research in the research and development center of the company to find new answers about future innovation.
Honda has set a very high benchmark in car industry. The growth of the company has been revolutionary. It started from scraps and is now a giant and a fully developed company. The new technology and constant improvement in different aspects of the car is commendable.
It has received high success in the market and has reached an all high in the car market. The Honda cars are both adaptable and driver friendly. The drivers feel a sense of safety and superiority while driving a Honda. Some great cars provided by Honda are as follows:
Honda Accord 3.5V6
Honda Civic 1.8V
Honda City 1.5V
Honda is a master of the car market. To maintain this status, the company is required to constantly improvise their existing mechanisms and features. The overall build quality of the car is solid and strong. The makers of the car have provided a perfect interior and exterior to all the models. The beautiful infotainment system is one of the key assets for the company. Firstly, the infotainment came under a lot of criticism from the drivers.
The car may have more features than actually required by the customer but the iDrive setup an intuitive and quick user experience. The decision of the company to install satellite navigation in all the cars was a commendable one. Once a customer climbs aboard the Honda, it can be noticed that the car is biased towards the driver. The dashboard in angled towards the driver’s seat. The heating and infotainment features are easily accessible for the front seat passenger.
Honda fared better than its competitors in a 2014 customer satisfaction survey. Like many other car manufacturers. The brand is setting up new standards in quality manufacturing and stylish structure. To be honest, Honda has done quite good since its inception. It just needs a little more push to bring out more features. The exterior of the car is sleek and stylish and is made of hard material which makes it corrosion free. The material used and the brushing done on top of the model prevents it from rusting. In the end, the rearview mirrors are developed and made better. The company needs to keep improving and keep coming up with newer features to beat the tough competition that it faces.
The resale value of Honda is good in India and overall in Asia. The company has set up many showrooms which provide updated services to the customers.
Honda also uses spare parts which are easily accessible for a consumer in the Indian market. These features definitely improve the overall resale value of the car. Consumers feel safe and protected while buying a Honda automobile. It surely serves as a good return on the initial investment made.
Honda is one of the largest automobile industries in the entire world. It has been facing certain difficulties in recent times though due to increment in fuel prices which made people buy less automobiles due to lack of fuel efficiency. Honda released some automobiles with good fuel economy to satisfy its consumers. These automobiles were well received among the consumers. The company conducts proper SWOT analysis to derive all the results and conclusions required for the future. The company has high research and development with equally high market share and innovations.
The strong brand equity, totally developed and unique interiors along with fuel efficient automobiles serves as a great asset to the company. The company has a little work to do on the overall cost structure and the interior design of the cars. Honda has huge potential as a company and it has proven this from time to time. The current state of the company is good and with proper strategy formulation and decision making, it can reach great heights in the future.
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