1 Project Report on SUBMITTED TO: SUBMITTED BY: MR. RAJIT VERMA MEGHA DASS-28 ASSISTANT PROFESSOR ILA KAMBOJ-14 IMS DEPARTMENT 2 Acknowledgement First and foremost, we would like to express our sincere gratitude to Mr. Rajit Verma, IMS Department, who was abundantly helpful and offered invaluable assistance, support, advice and guidance. He inspired us greatly to work. His willingness to motivate us contributed tremendously to my work. We also would like to thank him for showing us some example that related to the topic of our report. Apart from the efforts of us, we would like to gratefully acknowledge everyone who supported us throughout our work. Megha Dass Ila Kamboj 3 Index TOPIC Pg No. Introduction 4 History 4 Board of directors 5 Mission an Vision 6 Cars launched till now 7 SWOT Analysis 8 Innovative HONDA 10 Business Level Strategy 11 Competitors of HONDA 12 Comparison amongst Hatchbacks 14 Civic vs Elantra 15 Recent about Honda Cars 16 Conclusion 16 4 Introduction Honda Motor Co. has a reputation in Japan and the United States for making quality cars at affordable prices. Honda vehicles consistently enjoy good reviews and high reliability ratings. The Accord and Civic models consistently rank among the best-selling cars in the United States. History The Honda Motor Company began in 1948, but the real history goes back further. Soinchiro Honda grew up enraptured with cars and motors, and worked as an apprentice in Tokyo's Art Shokai motor shop in the 1920s. There, he helped the owners build a Curtiss Racer, which won the Japan Motor Car Championship in 1924. In 1946, Honda launched the Honda Technical Research Institute, which became the Honda Motor Company in 1948 when it began making and selling motorcycles. Even as other motor companies began shifting towards automobiles, Honda kept his focus on motorcycles throughout the 1950s. Honda launched his Juno scooter as a means of competing with Italy's Vespa scooter, and sales took off. With a sixth-place finish in the 125cc category at the Isle of Mann TT Race, Honda began to make a mark internationally. Soichiro Honda had always harbored international ambitions. In fact, he never aimed at success in Japan first. Honda told friends and associates that success in Japan would come naturally if the company ways successful around the world. He began to open locations in other countries, including a Honda shop in Los Angeles in 1959. The first bike sold was the C100 Super Cub. The company philosophy was summed up as "good products know no international boundaries." The 1970s represented a major turning point for Honda. In 1973, Honda began exporting the Civic to the United States, which would become one of the most successful family vehicles of all time. When the energy crisis hit, the economical vehicle---which was already starting to enjoy success---boomed. Honda began selling the Accord soon after, and began building cars in the United States in 1982. Honda also created the high-end Acura line of vehicles to appeal to consumers with deeper pockets than those who were buying the more practical Civics and Accords. 5 Board of Directors Mr. Yusuf H. Shirazi Chairman Mr. Shirazi is a Law graduate (LLB) with BA(Hons) and JD (Diploma in Journalism) Punjab University and AMP Harvard. He served in the Financial Services of the Central Superior Services of Pakistan for eight years. He is the author of five books including ‘Aid or Trade’ adjudged by the Writers Guild as the best book of the year and continues to be a columnist, particularly on economy. Mr. Atsushi Yamazaki President / CEO Mr. Yamazaki is President& CEO, Honda Atlas Cars (Pakistan) Ltd. He has been associated with Honda Motor Company Limited for over 30 years. He started his professional career with the company in 1979. Mr. Yukimitsu Miyagi Director / VP Production Mr. Miyagi has been associated with Honda Motor Company Ltd., Japan for last 33 years. He started his professional career in 1977 at Saitama Plant, Japan. He has served at different positions in Honda Malaysia and Honda Philippines for 12 years. Mr. Takashi Nagai Director Mr. Nagai has been associated with the Honda Motor Company for more than 27 years. He is currently President & CEO, Honda Siel Cars India Ltd. and Honda Motor India (Private) Ltd. He is also Honda Motor Company Operating Officer for South West Asia Region. 6 Mr. Shigeru Yamazaki Director Mr. Shigeru Yamazaki has been associated with Honda Motor Company Ltd., Japan for over 27 years. He is currently General Manager of Automobile Business Division, Asian Honda Motor Company Ltd.,Thailand. Mission and Vision Mission Maintaining a global viewpoint, Honda is dedicated to supply products of the highest quality, yet at a reasonable price for worldwide customer satisfaction. Honda's mission is to •Proceed always with ambition and youthfulness •Respect sound theory, develop fresh ideas, and make the most effective use of time •Enjoy work and encourage open communication •Strive constantly for a harmonious flow of work Vision Developing a philosophy built on the experience of a practical engineer, Soichiro Honda created a corporate culture that would go on working towards his objective - nothing less than becoming and remaining the world's best motor manufacturer - long after his own active day. The corporate vision statement is like the founder himself, enormously practical • Quality in all jobs - learn, think, analyze, evaluate and improve • Reliable products - on time, with excellence and consistency 7 Cars launched by Honda till now . Accord (1976-present) . Acty (1977-present) . Airwave (2005-present) . Ballade (1982 - present) . Brio (2011-present) . Caren (1990) . City (1981-present) . Civic (1972-present) . Civic Hybrid (2003-present) . CR-V (1996-present) . CR-Z, a hybrid electric vehicle (2011-Present) . Crosstour (2010-present) . Edix (2004-2009) . Element (2003-2011) . Elysion (2004-present) . FCX, a fuel cell vehicle [1] (2008-) . Fit (2001-present) . Fit Aria (1981-present) . Freed (2008-present) . Hobio (2003-present) . Insight, a hybrid electric vehicle (2000-2006, 2009-present) . Inspire (1990-present) . Jazz/Fit (1982-present) . Legend (1985-present) . Life (1971-1974, 1997-present) . MDX (2003-present) . NSX (1990-2005, 2015) 8 . N-One (2012-present) . Odyssey (1994-present) . Pilot (2003-present) . Ridgeline (2006-present) . Shuttle (1994-present) . StepWGN (1996-present) . Stream (2000-present) . Vamos (1970-1973, 1999-present) . ZEST (2006-present) SWOT ANALYSIS OF HONDA CARS Strength 1. High and powerful research and development 2. Innovation 3. Best market share leadership 4. Strong and powerful brand equity 5. Different and unique products 6. One major strength is the revolutionary engine technology with the help of which Honda is gaining success day by day 7. Popularity is termed as one of the best strength which results in betterment for the company Weaknesses 1. Honda depends on North America for 85% of its profits. 2. It can't afford a wrong move on big-volume models. Honda relies on Civic and Accord sedans for 55% of sales. 3. The company can't count on raking in profits from gas-guzzling recreational vehicles or luxury cars as its rivals do. Its Acura near-luxury line needs a major overhaul in the U.S. 9 4. Honda is unable to spread its fixed costs for engineering, technology, and marketing over a huge volume of vehicles. 5. It faces a long road in Europe. It has failed to make a dent in the small-car market, and it stands for ho-hum sedans driven mostly by pensioners. Opportunities 1. Due to increased interest from consumers into more fuel efficient and lower pollution cars. Honda can use it's strength in high R&D to develop these kind of cars to suit consumers needs. 2. China being a neighbor to Japan and has cost innovation advantages to be exploited in its global strategy. 3. Emerging market is one of the best opportunity for this company. 4. Various models are there which caters the lower segment. 5. Fuel efficiency is nowadays termed as one of the best opportunity which can results in the best productivity for the company. 6. Alliances are the best opportunities for Honda Company. 7. Honda can increase its production and popularity by focusing on sales and research. Threats 1. Declining buyer consideration, an outdated inventory system and a sliding reputation among younger car shoppers -- suggest a brand that has lost some of its mojo. 2. Two crucial products, the Civic and CR-V, are in the final year of their product cycle, and the Accord is 18 months from a redesign. 3. Losing its appeal. 10 Innovative Honda ASIMO With the goal of assisting people with limited mobility, Honda scientists and engineers spent two decades developing a robot that would become ASIMO (Advanced Step in Innovative Mobility). Today, ASIMO is the world's most advanced humanoid robot with the ability to walk, run, climb stairs and carry objects. ASIMO can even respond to voice commands and recognize faces. In the future, Honda hopes that ASIMO will be able to assist people with limited mobility or perform tasks dangerous to humans. Honda’s commitment to safety At Honda, we believe you deserve advanced levels of safety regardless of the price or size of the vehicle that meets your needs. We call this approach Safety for Everyone. Through technology and innovation we are developing increased levels of protection for everyone who enjoys Honda's products, while also making an active commitment to enhancing safety for the drivers and occupants of other vehicles, and even pedestrians. As a leader, Honda looks beyond industry and government requirements, and focuses on future innovation to invent safer w ays for people to drive or ride today.