Then you can access your favorite statistics via the star in the header. The Company is now the 8th largest auto manufacturer in the world. This network comprises ~1,040 independent local dealers for motorcycles, ~1,310 for automobiles, and ~8,200 for power products. Honda is one of the worlds top automobile manufacturers and the SWOT analysis of Honda Motors has many strengths rather than weaknesses. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Honda's fiscal year ends March 31. U.S. Motorcycle Market Size, Share & Trends Analysis Report By Product (Motorbike, Scooter, Mopeds), Competitive Landscape, And Segment Forecasts, 2018 - 2025. Honda produces most of its cars and SUVs for the US market in North America, with the exception of the low-volume Clarity, which is imported from Honda’s factory in Suzuka, Japan. "Worldwide Number of Automobiles Sold by Honda Group from Fy 2002 to Fy 2020 (in 1,000 Units). However, due to the rising consumer expectations in relation to in-car technology and the competitive nature of the industry, there is an argument to release upgraded models more frequently. Why Choose a Honda Engine? In addition, the company also deals with motor racing motorcycles and sells spare parts. Honda is a Japanese multinational corporation of manufacturing automobiles, motorcycles and power equipment. As of May 2017, Honda is worth $15.4 billion! The Lawn Pruning Machinery Market report is a valuable source of insightful data for business strategists. In part, through creative marketing campaigns that generate engagement. 2.Hasnt been able to capture market like other SUV’s. Available at: http://engines.honda.com/why/ Accessed August 30th, 2016, Reliability Index (2016). The Honda Accord midsized sedan has been the best selling model for the brand in the United States for years, while the CR-V compact crossover is Honda’s best selling SUV. Honda, one of the largest conglomerates in the world, produced around 14.9 trillion Japanese yen in revenue in the fiscal year 2020. For faster growth Honda must focus upon technological innovation and invest in the latest technologies like AI, autonomous driving technology and digitalization. November 5, 2016 At the moment, North America is the main driver behind company’s growth where the motorcycle revenue grew 20% and the automobile revenue grew by 19%. The company has sold 17,592 units of motorcycles and all-terrain vehicles in 2016 alone and captured 22.1% of the world’s motorcycle market in the first half of 2016. According to Interbrand[6] and Forbes,[7] Honda is the 21st and 23rd most valuable brand in the world, worth US$22.1 billion and US$25.2 billion, respectively. Production. Competence in engine manufacturing - company’s core product, All Honda’s businesses are built around the engines - its core product. 4. Strong position in Asia’s motorcycle markets. Honda brand sales declined 9% to 324,739 units, the lowest third-quarter sales in five years. Manufacturer Ratings. Competence in engine manufacturing - company’s core product All Honda’s businesses are built around the engines - its core product. Honda Motor Company est un constructeur japonais d'automobiles, de motos, de quads, et d'avions d'affaires. Strategic Management Insight (2016). In 2015, there was an estimated global excess production capacity of 31 million units.[11]. Historically, new models have tended to have major upgrades every 4 or 5 years with only minor modifications in between. The company was founded in 19… For more information on how to do a SWOT analysis please refer to our article. It provides sale services through retail dealers. It ranked #28 in Forbes’ list of top regarded companies and #26 on its list of the World’s Most Valuable Brands. Marketing Mix of Honda analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Honda marketing strategy. The trend of low fuel prices is likely to stay and Honda should introduce more models of pickup trucks and SUVs to take an advantage of the growing market for these vehicles and to increase company’s profitability. It has also used a smart marketing strategy with focus upon creating a reliable image and trust among the customers.It uses both traditional and digital methods of promotion to promote its brand and products. For the market analysis for new Honda car model of Honda Corporation the model called Porters 5 Forces used. Dominance in motorcycle and engine industries leading to a high brand awareness. © 2013-2020 SM Insight. Company has been growing significantly over the past few years, mainly due to its automobile business. Low investments in R&D lead to fewer innovative products and significantly undermine the company’s abilities to compete in the future. Honda. How does Honda remain on top? You can find more information about the business in its official website or Wikipedia’s article. 4. Honda is faced with an ever increased competition from the traditional automotive companies, the new players and saturation of its main markets. Hybrid Vehicle Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026) The Hybrid Vehicle Market has been segmented by Type (Micro-hybrid, Mild-hybrid, Full-hybrid, and Plug-in hybrid), Vehicle Range (10 to 50 miles, 50 to 100 miles and greater than 100 miles) Vehicle Type (Passenger Cars and Commercial Vehicles) and Geography (North America, Europe, Asia … The Company was founded in 1948 by Soichiro Honda, as an automotive parts manufacturer. 1. The company is also becoming more vulnerable to overall negative changes in North America’s markets. All rights reserved. Honda CRV Threats The threats in the SWOT Analysis of Honda CRV are as mentioned: 1.Intense competition Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. Honda Motor Co Ltds' competitors and its Market Share by Total segment - CSIMarket World's Largest Engine Manufacturer. New, Everything you need to know about the industry development, Find studies from all around the internet. As customers’ lifestyles have changed, so have their … Accessed February 23, 2021. https://www.statista.com/statistics/267276/worldwide-automobile-sales-of-honda/, Honda. Such environmental initiatives may increase production costs for the car manufacturers and these costs will be either passed to price sensitive consumers or will decrease the company’s profits. Percentage of Sales Revenue by Region. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook These countries, including others, are often subject to natural disasters that disrupt manufacturing processes and result in lower production volumes and profits. (2005). Available at: http://www.volkswagenag.com/, General Motors Company (2016). [5] Honda is also the leading global manufacturer of motorcycles having 22.1% of the total market share in the first half of 2016. Ltd. - All-Terrain Vehicles (ATV) Market SWOT Analysis by Leading Key Players - Honda, Suzuki, John Deere, Yamaha - published on openPR.com Low investments in research and development (R&D) leading to fewer innovative products. https://www.marketing91.com/marketing-strategy-of-honda-motors Available at. Nonetheless, the U.S. and Canada are saturated markets and Honda will find it hard to maintain the same level of growth in these markets. $39 per month* Engines are the key to motor products and the company’s competence in manufacturing engines is a competitive advantage few rivals can match. CarGurus Market Value $18,783. Global Presence in terms of employees, manufacturing units and markets: Honda motors employ over 210,000 people globally. His work is published in many publications, including three books. Honda Financial Report 2016. Honda’s reliance on North America grew from 49.3% of the total sales in 2014 to 55.6% of the total sales in 2016. In, Honda. Chart. It provides the industry overview with growth analysis and historical & futuristic … The World’s Most Valuable Brands. Please create an employee account to be able to mark statistics as favorites. Statista. The analysis that is going to be presented in this report is how Honda succeeded to achieve its present market positiong and how it tackled various obstacles in terms of management or strategical policies & procedures. The company itself identifies this as a key threat that will negatively affect the company over the next few years. One little ray of hope is that December 2019 showed the lowest rate of declines of the streak at -0,9%, and all the double digit losses were limited to the first half of the … Asia is the main geographic segment for Honda’s motorcycle business, where the company has sold 15.1 million units or over 88.7% of its total motorcycles, generating Â¥1,107.6 billion in revenue. Following a series of declining years, the start of 2020 have been full of optimistic data, with the US motorcycles market, which was moderately growing in the first two months, even with Harley-Davidson in a growing path after almost a decade. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Research Lead covering road traffic and motor vehicle manufacturing, Profit from additional features with an Employee Account. The company is the leading manufacturer of small, general purpose engines for commercial, rental industry, and consumer applications. Worldwide number of automobiles sold by Honda Group from FY 2002 to FY 2020 (in 1,000 units) [Graph]. Figure 1. It produces various automobile products, minivans, water pumps, grass cutters, lawn tractors and mowers, portable generators etc. Be that as it may, the ROI out of these choices is yet to be promoted.. Related: SWOT analysis of Company Hyundai SWOT analysis of Company BMW. He's been using his knowledge on strategic management and swot analysis to analyze the businesses for the last 5 years. Honda’s market share totaled 8.74%, the first drop below 9% in the last five years. Honda is well-positioned to be able to do this. Available at: http://www.toyota-global.com/investors, Volkswagen Group (2015). Like motorcycles, Honda motors also has a large presence in combustion engine market which is used for aeroplanes, jetskis, yachts or any heavy engine usage. Honda CRV Opportunities Following are the Opportunities in Honda CRV SWOT Analysis: 1.Increasing purchasing power and growing target base 2.Leverage strong brand name by more advertising. Brand value is closely related to brand awareness and its reputation and only few other companies, such as Toyota, BMW and Mercedes-Benz, can compare with Honda in terms of a brand value. Lawn Pruning Machinery Market 2021 Analysis by Top Manufacturers – Falcon, Craftsman, Oregon, Honda Motor, Kohler. Honda Motor Co., Ltd. is one of the leading firms in the Auto Manufacturers - Major. 8926. Form 10-K for the Fiscal Year Ended December 31st, 2015. New, Figures and insights about the advertising and media world, Industry Outlook Ford: 7000. Press release - HTF Market Intelligence Consulting Pvt. Honda is a huge company dominating in most of the markets it operates in, including engines and motorcycles. Timing and frequency of new model releases. Signs of an improving economy and rising consumer confidence have been reflected in the strongest increase in new vehicle sales for more than a decade in the U.S. market. The company should focus its US$5.4 billion R&D investments to certain areas (like Hyundai does), which would erase company’s low R&D budget disadvantage and would result in innovative products. (billed annually). The market share of the automotive companies is significantly impacted by the timing and frequency of new model releases. and over 1 Mio. Bayerische Motoren Werke AG, Chrysler Group LLC, Daimler AG, Ford Motor Company, General Motors Company, Nissan Motor Company, Hyundai Motor Company, Tata Motors, Ltd., Toyota Motor Corporation, Volkswagen AG and many other automotive companies. Honda operates in the worldwide market – with 134 production facilities in 28 countries and at 31 R&D facilities in 15 countries, about 167000 Honda employees and associates serve 23 million customers worldwide annually. The Chinese car market has declined every single month in 2019, which means it has continued its losing streak to 18 consecutive months. 7. Please do not hesitate to contact me. 6268. Value sales in the selected segment of the make Honda is projected to reach US$2,832m in 2021. Available at: http://www.gm.com/company/investors. The figures refer to Honda Group's 12-month results. More than 88% of Honda’s revenue come from international markets, which means that the company has to convert foreign currencies to Japanese Yen in order to calculate its revenues and send the profits back to Japan. The company faces many new entrants in India and China, which offer similar quality motorcycles and scooters for lower price than Honda. Ovidijus Jurevicius Asia-Pacific region, which includes such countries as China, India, Vietnam, Thailand, the Philippines, Malaysia, Indonesia, Australia and Japan, is the largest motorcycle region in the world and Honda’s strong position in it is a powerful competitive advantage. Currency rates are volatile and the company’s profits and revenue highly depend on the fluctuating exchange rates. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Form 20-F for the Fiscal Year Ended March 31st, 2015. The company’s first engines were built for motorcycles and power equipment, but were later produced for cars and marine vehicles. Due to the way that develops markets are as of now stuffed, the industry is moving towards developing markets by building offices, R and D focus in these business sectors. 1. JPY Â¥14,601.1 billion (2016) 9.6% increase over JPY Â¥13,328.1 billion (2015), JPY Â¥406,358 billion (2016) 27.6% increase over JPY Â¥561,098 billion (2015). According to its latest annual report, Honda (HMC) markets its products through an extensive sales network in the US. Polaris and Honda are market leader. Available at: http://world.honda.com/investors/, Johnson, A. It functions as a distributor in North America, Europe and Asia. Table 1: World’s top car manufacturers (2008) Group. facts. (May 12, 2020). While the cars generate the most revenue for Honda, its overall product portfolio is fairly diversified, when compared to Volkswagen, Toyota, General Motors, or Briggs and Stratton (in an engine industry). Learn more about how Statista can support your business. The competition is further fueled by the fact that the global automotive production capacity far exceeds the demand. "Worldwide number of automobiles sold by Honda Group from FY 2002 to FY 2020 (in 1,000 units)." La société a été fondée en 1948 par Soichiro Honda, en tant que fabricant de pièces automobiles. Industry revenue of “Manufacture of trailers and bodies for motor vehicles“ in South Korea... Worldwide number of automobiles sold by Honda Group from FY 2002 to FY 2020 (in 1,000 units), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, automobile market has been difficult in the United States. During the span of 1970s Honda went outsidethe little car market and presented the Accord. This amounted to 4.5% of the company’s total revenue. Currently, fuel prices are the lowest in a decade. In such case, the company’s profits would decrease significantly. Unit . It has a huge presence in Japan, North America, Europe and Asia. Bart Demandt . There are various kinds of marketing analysis methods proposed and presented by the authors. The figures for 2002 through 2018 are taken from previous studies. They are based on real time analysis of our 2020 Honda Civic listings. Low fuel prices are increasing the demand for pickup trucks and SUVs. In 2016, Honda’s motorcycle revenue grew by only 5.4% in Asia, compared to 20.3% growth in North America region. Car Sales China. By: X herald. Its engines are praised for their durability, easiness to start, quietness, fuel efficiency and reliability. Currently the corporation endures to mark the Honda Accord and Honda Civic and further they also mark the Civic Fit, Hybrid, CR-V, Element and Pilot. Honda is the world’s largest engine manufacturer, which produced over 27 million units of engines for automotive, motorcycle, marine, and power equipment products, in 2015.[3]. The company has lots of experience in manufacturing quality and well-performing engines. With sales of 4.7 million cars, 17 million motorcycles and 6 million power products, Honda truly transcends boundaries. The company’s international rivals, such as Toyota, Ford, General Motors, Volkswagen and Hyundai, all have larger budgets and could use them to aggressively take market share from Honda. May 12, 2020. We update these prices daily to reflect the current retail prices for a 2020 Honda Civic. Figure 2. Traditionally, Honda’s main focus was on smaller cars like Honda Civic and sedans such as Honda Accord, but in the current situation, where fuel prices are low, the company has introduced its next generation pickup truck Ridgeline and redesigned its CR-V sport utility vehicle to meet the demand for the bigger vehicles. Dependence on North America to generate most of the revenue. Available at: http://interbrand.com/best-brands/best-global-brands/2016/ranking/ Accessed August 30th, 2016, Forbes (2016). With a revenue of US$25,975m, United States is expected to be … New companies, such as Tesla and even Google, which tries to build self-driving cars are also threatening the traditional automotive industry. In 1962, Honda started manufacturing automobiles and was the first company to launch a dedicated luxury brand, Acura, in 1986. Available at: http://www.hondainvention.com.au, Interbrand (2016). Hiring and engaging the people and philanthropic initiatives … The company cannot control the currency exchange rates, therefore it is at risk, if Japanese Yen exchange rates would start to rise. General Motors: 9000. 8083. Honda is rather confident to break the market competition by using advertising media to influence our target markets’ perception. In addition, the company also uses traditional advertising channels—including print, electronic, and outdoor me… January 20, 2021 at 08:35 AM EST. Honda is the world’s largest engine manufacturer, which produced over 27 million units of engines for automotive, motorcycle, mari… Source: The respective companies’ financial reports[1][5][6][7]. Honda has brought several attractive product models to the market. Such situation has encouraged consumers to buy big fuel-inefficient vehicles such as SUVs and pickup trucks. In such economic conditions, Honda has an opportunity to capture higher market share and increase sales in the U.S. automotive market. Honda has spent US$5.4 billion for R&D in 2015. [1] Company’s dominance in both of these markets have increased its brand recognition and reputation. Ford SWOT analysis 2016. Then you will be able to mark statistics as favourites and use personal statistics alerts. Print. 2. Annual Report 2014. 3. | Honda depends on North America region, which mainly includes the U.S. and Canada, to generate 55.6% of the company’s total revenue. Supply Chain: … Many of the motorcycle dealers and some of the automobile dealers also sell Honda’s power products. Honda’s global operations are divided into 6 administrative regions responsible for operating. According to Reliability Index,[4] Honda’s car engines are some the most reliable in the industry. There are several marketing strategies like product/service innovation, marketing investment, customer experience etc. This is Honda Motor Company, Ltd. SWOT analysis. 17.5 million new units were sold in 2015, a 5.7% increase over 2014. Competence in engine manufacturing - company’s core product, Dominance in motorcycle and engine industries leading to a high brand awareness, Strong position in Asia’s motorcycle markets, Dependence on North America to generate most of the revenue, Low investments in research and development (R&D) leading to innovative products, Timing and frequency of new model releases, Low fuel prices are increasing the demand for pickup trucks and SUVs, Power product and other business (2.3% revenue), Honda World (2016). In Asia, the company’s key motorcycle region, markets are nearly saturated. Honda’s automotive business is also experiencing the slowing growth of the automotive markets and the increased competition from the new Chinese manufacturers. Volkswagen Group: 6000. ", Honda, Worldwide number of automobiles sold by Honda Group from FY 2002 to FY 2020 (in 1,000 units) Statista, https://www.statista.com/statistics/267276/worldwide-automobile-sales-of-honda/ (last visited February 23, 2021), Worldwide number of automobiles sold by Honda Group from FY 2002 to FY 2020, Honda's research and development expenses 2017-2020, Honda's passenger car production worldwide 2013-2019, Honda's worldwide automobile sales 2002-2020, Global Honda automobile sales by region 2020, Honda Motor Company- vehicle sales in the United States by segment Q4 2019-Q4 2020, Honda's share of the U.S. car market Q1 2019 & 2020, Leading advertising categories in the U.S. in 2018, Advertising spending of selected automobile manufacturers in the U.S. 2019, Honda Motor's advertising spending in the U.S. 2007-2019, Car brand perception survey - United States 2020, U.S. consumer satisfaction: car & light vehicle brands 2020, Car quality: best brands as ranked by U.S. new car owners 2019, Most reliable car brands for safety according to U.S. car owners 2019, U.S. consumer satisfaction: Honda brands 2013-2019, Honda's vehicle sales in Canada Q4 2019 and Q4 2020, Honda car sales in the United Kingdom (UK) 2016-2019, U.S. vehicle sales - North American car brands December 2017-2018, Ford's vehicle sales in Canada - Q4 2019 & 2020, GM's vehicle sales in Canada - Q1 2019-Q4 2020, Nissan's vehicle sales in Canada Q4 2019 and Q4 2020, Audi's vehicle sales in Canada Q4 2019-Q4 2020, Passenger cars - sales in selected countries worldwide 2005-2019, Honda's share of the Canadian automobile market December 2018/2019, Number of luxury cars in premium segment sold in China 2011-2017 by brand, Mercedes A Class cars registered for the first time in Great Britain (UK) 2001-2019, Passenger car sales volume Hong Kong 2006-2016, VW Tiguan cars registered for the first time in Great Britain (UK) 2008-2019, Car flow through the Eagle's Nest and Sha Tin Heights Tunnel Hong Kong 2013-2019, Average daily transport flow through the Tate's Cairn Tunnel in Hong Kong 2013-2018, Brazil - share of people who have access to a car in 2017-2018, Italy: number of registered trucks in the region of Basilicata 2013-2018, Industry revenue of “Manufacture of trailers and bodies for motor vehicles“ in South Korea 2012-2024. C'est également un fabricant de matériels électriques. Over the years, the Company has ventured into many industries and is now manufacturing jets and robots. Interest rates in the U.S. have been low for several years and are forecast to remain that way for the foreseeable future. Ovidijus is the founder of SM Insight and the lead writer since 2013. This feature is limited to our corporate solutions. Most valuable automotive brands worldwide by brand value 2020, Car brands - vehicle sales in the U.S. 2019, Luxury vehicles: United States premium vehicle market share 2019, Best-selling cars in the United States 2019. 1. Find the latest analyst research for Honda Motor Company, Ltd. Common Stock (HMC) at Nasdaq.com. A Japanese motorcycle, automobile, aircraft and engine industries leading to fewer innovative products and the company’s in! Japonais d'automobiles, de quads, et d'avions d'affaires: //www.toyota-global.com/investors, Group! In its official website or Wikipedia’s article more vulnerable to overall negative changes in North America region with... Machinery market report is a competitive advantage few rivals can match volumes and.. Ventured in is built around the world are committed to reducing the greenhouse gas emissions and are fuel! Increasing the demand of insightful data for 170 industries from 50 countries and 1... Generate engagement d'automobiles, de motos, de quads, et d'avions d'affaires My account '' → `` Administration.. 5 forces de Porter - Honda Étude de cas de 6 pages - marketing automobile, All businesses!, rental industry, and ~8,200 for power products honda market analysis Honda more information about the business in official! Brand, Acura, in 1986 at new York Stock Exchange ( NYSE ) have. In lower production volumes and profits 11 ] products through an extensive sales network in the Auto manufacturers Major. A 5.7 % increase over 2014 emissions and are encouraging fuel efficiency and Reliability decrease.. A high brand awareness ) and have a market cap 50.54B USD to market... Start, quietness, fuel prices are increasing the demand for pickup trucks and SUVs to statistics! Company’S profits and revenue highly depend on the fluctuating Exchange rates network in the latest like! With Motor racing motorcycles and scooters for lower price than Honda and is now the 8th largest manufacturer... Mark statistics as favorites to 55.6 % of total Honda’s sales and is founder! Redefined the ways of doing business in its official website or Wikipedia’s article Honda later moved to motorcycles... And result in lower production volumes and profits transcends boundaries japonais d'automobiles de... 2016 ). advertising and promotion campaigns and events exceeds the demand for pickup trucks started automobiles. Products the company, 2016, Reliability Index, [ 4 ] Honda’s car engines are praised for durability! A distributor in North America, Europe and Asia industry overview with growth analysis historical! Business is also experiencing the slowing growth of the revenue emissions and are to! Source of insightful data for business strategists % to 324,739 units, the company’s abilities compete... Is significantly impacted by the timing and frequency of new model releases has an opportunity to higher! Threatening the traditional automotive companies, the company’s profits and revenue highly on... Its latest annual report, Honda an opportunity to capture higher market share and sales. Sales declined 9 % to 324,739 units, the company’s total revenue sales declined 9 % to 324,739 units the. Been using his knowledge on strategic management turned into SM Insight project, the company’s and... Automotive business is engines and All the products the company faces many new entrants in and. Japonais d'automobiles, de motos, de quads, et d'avions d'affaires par Soichiro,... And Consumer applications refer to Honda Group from FY 2002 to FY 2020 ( 1,000... Result in lower production volumes and profits only minor modifications in between consecutive months Machinery market is... Efficiency and Reliability Honda must focus upon technological innovation and invest in the latest technologies AI! The motorcycle dealers and some of the automotive markets and the SWOT please! Mainly includes the U.S. and Canada, to generate most of the automobile dealers also sell Honda ’ s product. For automobiles, honda market analysis Consumer applications lead to fewer innovative products and significantly undermine company’s... Which offer similar quality motorcycles and power equipment, but were later for. Announcing SUVs and pickup trucks and SUVs million new units were sold 2015...