Honda statistics 2024
Honda, a Japanese automaker, has had a significant presence in North America since it first entered the market in 1969. After originally establishing itself as a motorcycle manufacturer, Honda smoothly transitioned into the automobile industry, where it quickly became an important player. Today, it ranks as the second-largest Japanese automaker in the U.S., just behind Toyota.
Honda's cars, SUVs, crossovers, minivans, trucks and motorcycles are ubiquitous on roads worldwide. The company is consistently ranked by auto review publications as being among the top ten car manufacturers for reliability, maintaining a reputation for producing fuel-efficient and well-built vehicles.
In 2023, Honda Motor Company took a significant step forward by announcing a collaboration with General Motors to produce a new hydrogen fuel cell system, signaling a commitment to innovation in sustainable automotive technologies.
In the fiscal year ending March 2024, Honda Motor Company reported a total global annual revenue of over $134.9 billion, representing a 5.66% increase over the previous year.
Jump to insightSince 2000, Honda has consistently sold over a million automotive units annually in the U.S.
Jump to insightIn 2022, the CR-V emerged as Honda's bestselling model in the U.S., followed by the Accord and the Civic.
Jump to insightIn 2023, Honda held approximately 8.5% of the U.S. automotive market share.
Jump to insightThe safest Honda models by size category are the Civic for small cars, the Accord for midsize cars, the CR-V for small SUVs, the Pilot for midsize SUVs and the Odyssey for minivans.
Jump to insightHonda statistics
Since 2000, annual sales of Honda automotive models in the U.S. have consistently exceeded a million units. However, in recent years, Honda has experienced a decrease in its sales within the U.S. market. In 2022, sales dropped by 10.8% from the previous year, influenced by factors such as the global chip shortage and higher interest rates. Nevertheless, Honda remains a top-selling car brand in the U.S., securing the fourth position in 2022, just behind Toyota, Ford and Chevrolet.
In 2023, Honda accounted for approximately 8.5% of the U.S. auto market. Key models driving its sales included the CR-V, Civic and Accord, which were among the bestselling SUV and car models of the year. The fourth quarter of 2023 alone saw sales of around 302,400 Honda vehicles, affirming its strong presence in the American market despite recent challenges.
Hondas sold yearly
In the fiscal year 2023, Honda Group sold approximately 3.69 million automobiles worldwide, primarily in Japan and other Asian countries. This represented a 9.3% decrease from the previous year's sales figures.
Bestselling Honda models
In 2022, the Honda CR-V, one of the most popular SUVs worldwide, emerged as Honda’s bestselling model in the U.S. The same year, the Accord assumed the second-place spot in U.S. sales for the brand, a model that had previously held the title of Honda's bestselling vehicle in the U.S. for many years.
Honda revenue by year
For the fiscal year ending March 31, 2024, Honda Motor Company reported a total global annual revenue of $134.93 billion, a 5.66% increase from the previous year. In the first quarter of 2024, revenue reached nearly $35.9 billion, marking an 8.3% year-over-year increase.
What are the safest Honda models?
In the 2023 Insurance Institute for Highway Safety (IIHS) Top Safety Pick awards, Honda Motor Company ranked second in the total number of awards, trailing only Toyota. Honda secured six Top Safety Pick+ awards and two Top Safety Pick awards.
The awards recognized Honda's commitment to safety, with criteria that included driver and passenger crash protection, pedestrian crash prevention and headlight performance. According to the IIHS, the safest Honda models in different size categories for 2023 were:
- Civic for small cars
- Accord for midsize cars
- CR-V for small SUVs
- Pilot for midsize SUVs
- Odyssey for minivans
How long do Hondas last?
According to the U.S. Department of Transportation's Federal Highway Administration, the average annual mileage for drivers in the U.S. is approximately 13,500 miles. Concurrently, the average age of light vehicles in the U.S. has reached 12.5 years, equivalent to around 169,000 miles. Honda vehicles, however, tend to exceed this average life span, with a typical Honda car lasting about 200,000 miles. Moreover, many Honda models can surpass even this milestone with proper care and maintenance.
FAQ
Where does Honda rank in the world?
In 2022, Honda ranked third in terms of global market share among automotive brands, accounting for 5.4% of the market, following Toyota and Volkswagen. However, in terms of global revenue, Honda ranked eighth among automotive companies in 2023.
What is Honda ranked in the U.S.?
In 2022, Honda was ranked fourth among the bestselling car brands in the U.S., behind Toyota, Ford and Chevrolet.
Are Hondas reliable cars?
While Hondas continue to excel in some reports’ latest reliability rankings and are renowned for their durability, Honda’s reputation has received mixed reviews overall. Even though many Honda vehicles surpass 200,000 miles without major issues, the brand has faced challenges in J.D. Power’s U.S. Vehicle Dependability Studies in recent years.
What are the disadvantages of Honda cars?
Honda cars are known for their reliability, performance and fuel efficiency. However, common issues reported in Honda vehicles include transmission problems, improperly installed airbags, power steering problems, sudden power loss and defective ignition interlocks. It is important to follow the manufacturer’s recommended maintenance schedule to mitigate these issues. Other essential preventive measures include regular oil changes, tuneups and air filter replacements, along with the timely replacement of worn or damaged parts.
References
- “Honda Sales Data, Trends, Analysis & Current Lineup for the U.S Automotive Market.” Good Car Bad Car. Evaluated July 5, 2024.Link Here
- Carlier, M. “Honda Motor Company in the United States - statistics & facts.” Statista. Evaluated July 5, 2024.Link Here
- “Honda Motor Co., Ltd. (HMC).” Stock Analysis. Evaluated July 5, 2024.Link Here
- “2023 Top Safety Picks.” Insurance Institute for Highway Safety. Evaluated July 5, 2024.Link Here
- Carlier, M. “Worldwide number of automobiles sold by Honda Group from FY 2002 to FY 2023.” Statista. Evaluated July 6, 2024.Link Here
- “IIHS strengthens requirements for Top Safety Pick awards.” Insurance Institute for Highway Safety. Evaluated July 6, 2024.Link Here
- “Average Annual Miles per Driver by Age Group.” U.S. Department of Transportation. Evaluated July 6, 2024.Link Here
- Parekh, N., & Campau, T. “Average Age of Light Vehicles in the US Hits Record High 12.5 years, according to S&P Global Mobility.” S&P Global Mobility. Evaluated July 6, 2024.Link Here
- “The Longevity of Honda Cars: Mileage, Maintenance, and More.” Brickell Honda. Evaluated July 7, 2024.Link Here
- “Honda Cars Common Problems.” Servicing Master. Evaluated July 7, 2024.Link Here
Figures