Soichiro Honda established Honda Technical Research Institute in 1946 and the company produced its first product, a bicycle engine, in 1947. Honda began motorcycle production in 1960 and released its first sports car in 1963. It found success in the United States with the Civic debuting in 1972 and ranking first in fuel economy tests in 1977. Honda remains headquartered in Tokyo and has become a major global automaker known for reliability, resale value, and performance.