H. Yoo
Research expert covering South Korea
Honda Motor Company in the United States - statistics & facts
In December 2023, the Honda Motor Company announced a global vehicle recall, including about 2.54 million vehicles in the United States, over fuel pump failures. This was the third recall due to similar issues, following earlier recalls in 2020 and 2021. Before these setbacks, the group's eponymous brand Honda was among the most valuable brands in the automotive sector worldwide, ranking ninth as of June 2023. That same year, its CR-V model was also the second best-selling sport utility vehicle in the United States, right behind competitor Toyota鈥檚 RAV4. Honda's performance contributed to Honda Motor Company's revenue, which reached around 16.9 trillion Japanese yen in its 2023 fiscal year. This was the highest revenue on record since 2002, surpassing the group's pre-pandemic performance. This success was, however, not reflected in employee numbers, which were still decreasing, or in the company's operating profit, which declined by around 10.4 percent year-over-year.
