The Nation’s Best Car Company Is Japanese
Ever notice that nobody makes a fuss about buying televisions made in Korea or coats sewn in Mexico. But if you’re buying a car, your patriotism is questioned?
Let’s not forget that Honda was the first Japanese firm to build cars in the U.S. starting 50 years ago. The impact has been overwhelmingly positive: According to a study from the Center for Automotive Research, more than 367,000 private sector jobs and $17 billion in annual wages are generated thanks to Honda‘s U.S. operations.
With a market capitalization of $50 billion dollars, roughly 50 times the size of GM, I believe the best car maker €” and car stock €” is undoubtedly Honda, whose Accord was the top-selling U.S. vehicle in April.
If you lament the decline of the big three domestic auto makers, remember that, like Wal-Mart, it’s American consumers who‘ve made Honda a success in America.
Honda‘s success is based on the company‘s brand, high-quality production and diversity of products, precisely why there‘s a good chance one of them is sitting in your driveway right now. That‘s why the
President Barack Obama’s recent suggestion that, €œIf you are considering buying a car, I hope it will be an American car,€ misses the wholly-beneficial reality of free trade. Honda‘s success in selling cars in America has enriched the Honda Corporation but also the consumers who‘ve bought them, employees who‘ve made them and shareholders who‘ve invested in them. Unlike a bailout or subsidy, trade is not a zero-sum game.
