Japanese automaker Honda is the third-largest auto manufacturer in the world and the largest motorcycle manufacturer. They know two-wheeled and four-wheeled vehicles like the back of their own hands. However, when we say Honda plans to take flight next year, we're not referring to robust automobile or motorcycle sales. Rather, we mean they're aiming to capture roughly a quarter of the world's small business jet market share. That's right; Honda is planning to take off in the most literal sense possible.
Where is Honda in their small business jet project now? Close to getting their multi-million-dollar jet officially certified. Once that critical piece falls into place, Honda then plans to ramp up production to 80 HondaJets annually, beginning Q1-Q2 2013.
Dubious about demand for small business jets? Well, there are other small business jet carriers out there. But, when you can offer a jet that is quieter, delivers 20-percent better fuel economy and approximately two-thirds improvement in overall operational costs, you have leverage to dominate the market. And, small business jets don't represent as small of a niche as many think. Case in point: When Honda initially started taking orders for the winged commuter approximately six years ago, they took 100 in three days!
Drawing a parallel between the HondaJet and best-selling Civic, Honda executive, Michimasa Fujiino says, "We're doing with the HondaJet what the Civic did to American cars from the 1960s. Our competitors are still producing technology from the 1990s."1 Honda Aircraft expects to turn a profit come 2018.
Interested in more Honda news? Stay tuned. Castle Honda, located at 6900 Dempster St in Morton Grove, IL is dedicated to keeping you informed.