5 Surprising Facts You May Not Know About Honda

Honda has a long history of making high-tech vehicles for drivers all over the world. Given the company’s popularity, you may think you know a lot about it. Still, there’s a good chance that you’ll find some of these five facts surprising.

Honda Manufactures More Motorcycles Than Any Other Company

Unless you’re a motorcycle enthusiast, you may not know that Honda makes some of the world’s best bikes. In fact, Honda manufactures more motorcycles than any company in the world. Even though motorcycles only make up 13.9 percent of Honda’s business, it still outproduces all other companies.

If you’re ever interested in buying a motorcycle, there’s a good chance that you will test drive some made by Honda.

Honda Makes Money from Financial Services

According to Honda’s annual report, the 11.7 percent of its net sales come from financial services. Just because Honda makes money from financing, however, doesn’t mean you should avoid their options. Offers from Honda are often just as good (if not better) than financing opportunities from banks and credit unions.

To make sure you get the lowest possible interest rate, you should compare offers from several lenders. A lot of times, though, Honda’s in-house financial will help save you money.

Honda Creates Jobs for American Workers

Even though Honda is based in Japan, it has manufacturing facilities all over the world. This makes it possible for the company to deliver vehicles to each market quickly. It also helps the company avoid the high cost of shipping vehicles overseas.

As of 2016, Honda has 12 manufacturing plants in the United States. In fact, 99 percent of Honda cars sold in the U.S. were made in North America by American workers.

The next time someone tells you they don’t want to buy a foreign car, you might want to inform that person about Honda’s commitment to using American labor when manufacturing cars for the U.S. market.

Honda Has Huge Market Value

Honda is the eighth largest car manufacturer in the world. It’s also the second largest car manufacturer in Japan as of 2001. The company is so large that its market value is higher than GM and Ford combined.

The higher market value largely comes from Honda’s willingness to sell vehicles all over the world. While GM and Ford primarily focus on the American market, Honda is tapping into emerging markets to increase its sales. It’s a smart business move that helps fund the company’s research and development while earning strong profits.

Honda Introduced VTECH to Consumers

Honda was the first company to use a VTECH engine in a production car. VTECH stands for Variable Valve Timing and Lift Electronic Control (obviously it’s not a perfect acronym). The technology improves the efficiency of four-stroke internal combustion engines, which boosts fuel economy.

Honda strives to make some of the world’s most innovative vehicles. This commitment has helped make it a popular company on several continents, including North America, Asia, and Africa. The more you know about Honda, the easier it is to understand why so many people own its cars and motorcycles.

Image via Pixabay

 

Posted in Community | Comments Off on 5 Surprising Facts You May Not Know About Honda