Auto and motorcycle maker Honda Motor Corp. (NYSE: HMC) in nearing the end of the certification process for its business jet, and expects to have production ramped up to about 80 planes a year by mid-2013. The price for the small jet is $4.5 million.
Reuters reports that a company official has said that Honda has a three-year backlog of orders on the new plane already. The total market for these planes, about 200 annually, is currently shared by the Cessna division of Textron Inc. (NYSE: TXT) and Brazil’s Embraer SA (NYSE: ERJ). General Electric Co. (NYSE: GE) is partners with Honda in a joint venture to build the plane’s engines.
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