How did Honda become so successful? STARTUP NEW

Honda company, about which you must have heard somewhere or might have been shocked while driving on the road, today Honda company earns around 2 crore ($20 million dollars) every minute, its scooter comes with the best number in world sales and today Honda not only makes bikes but it also makes cars, aeroplanes, private jets and robots and all this was started by a child for whom buying a bike at the beginning was like a dream and his father also belonged to a complete poor family, so how did a small child make a company worth around 5000 crore ($52.8 billion dollars)? Let us know about it in details. hey.

introduction

This story begins almost 115 years ago, this story is of the year 1906 when Soichiro Honda was born in a small city of Japan called Hamamatsu. His family background was very poor. To run his family, his mother used to do tailoring and his father was a blacksmith. His financial condition was so bad that he had 5 brothers and a sister who could not even get medical treatment due to lack of money. Due to this, 4 of his brothers also died. Soichiro Honda’s only aim at that time was that he would study and do a good government job.

history of honda company

Soichiro Honda was not interested in studies, he was very weak in working. In childhood, Soichiro Honda used to go to a rice mill with his grandfather and the work was done with the help of a petrol powered machine. When Soichiro saw it, many questions arose in his mind at that time and whenever he used to operate that machine, he used to become very happy and Soichiro was very interested in how it works, how much oil it consumes and many other questions used to come to his mind and Soichiro Honda developed a passion for operating this motor and machine.

And at the age of 11 years the thinkers used to get such a car which would give even more energy to their passion, they used to show them a model of a Ford at that time and when they would catch the car, they would start running behind it without thinking anything and when the car stops somewhere far away they would become focused and start catching it and think that we too will make such a car and will sell it to the whole world

YEAR 1992
Soichiro Honda once put an advertisement in a paper. He was looking for a garage worker named Art Showkai in Tokyo City. He had to design a car and make it for himself. This was a dream job for Soichiro Honda.

Then at the age of 14 he made a lot of decisions that he would go to Tokyo city and work in a US garage and then he quickly applied for a job and he quickly got promoted and the solicitors lost a lot because he who had a dream of going to Tokyo was going to be real but the reality was something else, the solicitors had to repair the car there where he used to give them the work of cleaning and babysitting and many months were spent but he did not even touch the car He had been given away and he was hoping to be lost, he used to think many times about leaving his work and going home, and he used to stop every time with the thought that if he went away from home then he would not be allowed to return back.

YEAR 1923
And in 1923 a major earthquake happened in Japan which was the greatest earthquake and there was a lot of damage in whole Japan but this earthquake was of great benefit to Honda because most of the garage workers went to their homes to repair them and only one solicitor and one employee remained in the garage and the final solicitors had to be used in car repairing because they did not have any other option and at that time there were no solicitors. The boys were only learning repairing, they were also getting the opportunity to drive bike and car and by beating the work of the thinkers they were quite impressed by their owner and their permission was given and it was going on

And at our time Japan was going on a popular car racing event and for this the owner of the art school asked Soichiro to assemble a car. Soichiro took second hand the CURTIS BIPLANE from America and assembled a racing car using the body of a Mitchakka car and the name of the car was kept as CARTUS and in 1924 this car participated in the JAPNESS MOTAR CAR CHAMMPION CAR RACING and he won a car racing on the 1st number and Soichiro accompanied him. The responsibility of the engineer was fulfilled and the motor car became a new obsession for Soichiro Honda

challange faced honda company

In July 1936 when Soichiro’s car had a major accident during arcing and he was hospitalized, his face was fractured and his hand was also fractured and the hand solder was dislocated and he said that he did not see any option other than quitting Honda racing and it took him full 18 months to recover and in the hospital he thought of opening his own company and he decided to manufacture car parts

And then there is a major twist in the story, at that time World War 2 had started between America and Japan and during that war America with the help of its air fighter drops a bomb on Soichiro Honda factory, that factory gets completely destroyed and after that the war ends just like that, Soichiro had not yet fully recovered from the war when at that time a very big earthquick comes to Japan and the whole country gets destroyed and Soichiro gets completely ruined.

marketing strategy of honda company

Year 1928
In 1928, Art Sachoi thought of opening a new branch in Soichiro’s town Hamamatsu and on the basis of his partnership, he was made the in-charge of this branch of Soichiro and everybody thought that this company of Soichiro would be very successful but the reverse happened, nobody liked it and they were afraid of giving their car’s life to such a small child. Due to this, the company started going into loss and it was on the verge of closing down

Worried by this, Soichiro made a strategy that whichever car the next garage could not repair, or failed to repair, or the car was very bad, he thought of repairing that car and went to every garage and said that whichever car you could not repair, you would send it to us and whichever car failed to repair came to him, he would repair it one by one. Due to this, people’s trust in Soichiro’s company increased and a strong reputation was built in the market and that car repairing company became very successful and when he was 25 years old, he was booking a profit of $1000 every month. And he had also formed his own team of more than 50 people and after that he focused on manufacturing the racing car again and he himself started getting involved in racing cars and till 1936 he won many races and started giving his credit to motor cars.

And he finally decided that he has to manufacture piston ring. Piston ring is a tool to be fitted in the car and then he along with his team of 50 people started the manufacture of his own piston ring and for making that ring some costly machines were also installed and it took a lot of effort to make it and then in 1937 he made an acceptable piston ring and launched it in the market and in the next 2 years he started supplying his piston ring to many big companies like Toyota and Suzuki and also started supplying his piston to government agencies and in 1940 Till now Soichiro has built his very big company and he is growing very fast in the market.

And those kids sell some assets for Rs. 400000 and then they take a break for some time and at that time due to the war the oil price had increased a lot and then everybody mostly used cycle for coming and going and at that time it came to Soichiro’s mind that why not design an affordable motorcycle for the people and then Soichiro opened his own Honda company and started designing the motorcycle and he was successful in making it and this bike started selling very fast then there was a major problem in this that this motorcycle was consuming a lot of oil and Soichiro modified this motorcycle to run on petrol and oil of resin The motorcycle was made and the motor cycle was sold in huge numbers and inspired by this the sochiro opened his new company Honda Motors and in this company he started designing only motorcycles and within a year he launched his bike in 1949 which completely failed in the market due to its heavy and costly price. After that the sochiro thought of making an engine which should be small enough and have good power. Then he made a good engine by using the cub engine for his bike and he became very famous in the entire market, now no one was in front of him. There were no competitors left and after doing this work he also got the reward of blue ribbon from the government and started promoting his bike on TV and in newspapers and due to this strategy the demand for Honda bikes was increasing and he also started exporting his bike globally

compatitor analysis of honda company

top honda compatitor in 2024 is

- tata motoras

- hyundai

- audi

- ford

- nissan

- volkswagen

- porsch

- fiat

- maruti suzuki

- hero

- bmw

- toyota

- mercedes

honda making automobile in japan small city Hamamatsu in japan in 1946 and its current headqua in japan Hamamatsu city

vision & feature plan of honda company

Honda company’s main vision is that they can make a car by 2030 which is fully self driving and it can drop its own passenger to their respective location, this will save driver’s cost and there will be quick arrival

And Honda company’s main vision is that they can make electric bike and car which can run without any hassle and which does not need to be charged again and again and we can travel in it to a long distance and even middle class people can easily afford this car.

finance analysis of honda company

anual income of honda company

according to the data honda anul income is $7.14 billion doller and its total market cap is $139.37 billion dollar

networth of honda company

honda latest networth report the company current market cap is $157.47 jbillion dollar in 26, june 2024 and its increased by 23% per year according to the data

current ceo of honda company

the current ceo of honda company is toshihiro mibe he is chief exexutive officer and persedent and director of hond he since in june 2021

honda ceo income

toshihiro mibe appointed in april 2021 and 3 year total sallry is ¥348.00M sallry increased by 27 % per year

consulusation

I am saying that this information is about Honda which you all would have liked a lot. When did this come, I have told you about its history in details and after reading everything you all will come to know whether money should be invested in this company or not and you would have got to know a lot more

If you want to know anything about this or if you want to know anything, you can tag any question in the comment section below. This is absolutely FREE

How did Honda become so successful?