American Honda Reaches Major Sales Milestones: 20 Million Cars and 50 Million Products Sold in America

TORRANCE, Calif., Sept. 24 -- American Honda Motor Co., Inc., today announced the achievement of a significant milestone in the company's history, selling 20 million Honda and Acura automobiles in America. In addition, in recent months Honda has surpassed the 15-million mark for sales of both Honda motorcycles (July) and Honda power equipment products (September), bringing to 50 million the total number of Honda products delivered to American customers since the start of operations in September 1959.

"We would like to thank all of our customers for their faith in Honda and its products over these many years," said Koichi Kondo, president of American Honda Motor Co., Inc. "We must also thank our associates, our dealers and our suppliers for their hard work and dedication in helping us reach this milestone. This is a major achievement that no one could have imagined when we began business 44 years ago as a distributor of motorcycles."

American Honda started selling automobiles in 1970 when it sold 4,159 Honda N600 sedans. Today, American Honda offers a full line of Honda and Acura passenger cars and light truck models and is on track to sell a record 1.35 million vehicles in 2003, which would mark an eighth consecutive year of record sales. Globally, Honda is targeting record sales of 17.35 million automobiles, motorcycles and power equipment products for the calendar year.

Honda now has the capacity to build more than 1.22 million vehicles annually in North America and sources more than 75 percent of its U.S. products from plants in North America.

"This is a tremendous achievement for Honda and for all Honda associates," said Koichi Amemiya, chairman and CEO of American Honda Motor Co., Inc. "Even as we celebrate this milestone, we must rededicate ourselves to the world-class engineering, technological leadership and product innovation that has enabled us to meet the needs of so many customers."

Honda is the world's largest manufacturer of engines (more than 15 million in 2002) and a leading provider of products ranging from exotic sports cars to residential lawnmowers. All Honda products share the same attention to detail, world-class quality and technical innovation that has put them at the top of many consumers shopping lists. In addition, all Honda products demonstrate a strong commitment to the environment and to the safety of all individuals, utilizing Honda original technology to deliver low emissions and excellent fuel efficiency together with advanced safety designs.

Honda began operations in America in 1959 with the establishment of American Honda Motor Co., Inc., Honda's first overseas subsidiary. Honda now employs more than 26,000 associates in North America in the design, manufacture and marketing of products. Honda currently has 11 manufacturing plants in North America producing automobiles, light trucks, motorcycles, all-terrain vehicles, personal watercraft, automobile and motorcycle engines, automobile transmissions, and power equipment products including lawn mowers and general purpose engines.