UNITED STATES
SECURITIES AND EXCHANGE COMMISSION



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FORM 10-K

[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended March 31, 2002

OR

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to

Commission file number 333-30037



Honda Auto Receivables 1999-1 Owner Trust



|Delaware                                       | 95-4694380                         
|---------------------------------------------- | -----------------------------------
|(State or other jurisdiction of
incorporation) | (I.R.S Employer
Identification No.)





|700 Van Ness Avenue
Torrance, CA         | 90501     
|---------------------------------------- | ----------
|(Address of principal executive offices) | (Zip Code)

Registrant's telephone number, including area code: (310)781-6131

Securities registered pursuant to Section 12(b) of the Act:



|Title of each class | Name of each exchange
on which registered
|------------------- | -----------------------------------------
|None                | None                                     

Securities registered pursuant to section 12(g) of the Act:

None
(Title of class)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
       YES   [X]      NO   [   ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not contained, to the best of registrant's knowledge, in definitive proxy or 'information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ X ]



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PART I

Item 1. 	Business 
   The following tables set forth the number and aggregate principal amount of delinquent receivables, the delinquency rates, and aggregate net losses of the Honda Auto Receivables 1999-1 Owner Trust as of March 31, 2002 :

1. Delinquent Contracts:



|                              | Contracts | Amount ($000's)
|----------------------------- | --------- | ---------------
|a. 30 - 59 Days Delinquent    | 188       | 1,057          
|b. 60 - 89 Days Delinquent    | 40        | 214            
|c. 90 Days or More Delinquent | 15        | 77             

2. Delinquent Ratio:



|                      |  | Amount ($000's)
|--------------------- |  | ---------------
|a. Delinquent Balance |  | 1,348          
|b. Total Pool Balance |  | 78,098         
|c. Delinquency Ratio  |  | 1.73%          

3. Aggregate Net Losses:



|                         |  | Amount ($000's)
|------------------------ |  | ---------------
|a. Cumulative Net Losses |  | 3,419          
|b. Original Portfolio    |  | 729,508        
|c. Aggregate Loss Ratio  |  | 0.47%          

Item 2.  Properties
          The Trust is a business trust formed under the laws of the State of Delaware 
          pursuant to the Trust Agreement for the transactions described herein. The Trust 
          will not engage in any activity other than (i) acquiring, holding and managing the 
          Receivables and the other assets of the Trust and proceeds therefrom; (ii) issuing 
          the Notes and the Certificates; (iii) making payments on the Notes and the Certificates; 
          and (iv) engaging in other activities that are necessary, suitable or convenient to 
          accomplish the foregoing purpose or are incidental thereto or connected therewith. 
          The Trust issued four classes of Notes (respectively, the "Class A-1 Notes 4.974% ",
          the "Class A-2 Notes 50186%", the "Class A-3 Notes 5.300%", and the "Class A-4 
          Notes 5.350%") pursuant to an indenture to be dated as of January 1,1999, between the 
          Trust and Bankers Trust Company, as Indenture Trustee. The Trust also issued one class 
          of certificates, which will represent fractional undivided interests in the Trust (the "Certificates"). 
          The Certificates are not being offered hereby. The assets of the Trust will primarily include 
          a pool of retail installment sale contracts (the "Receivables") secured by the new or used 
          Honda and Acura motor vehicles financed thereby, certain monies due or received under 
          the Receivables on or after January 1,1999 and monies on deposit in the Reserve Fund and 
          the Yield Supplement Account described herein. The Receivables are serviced by American 
          Honda Finance Corporation ("AHFC" or the "Servicer"). The assets of the Trust pursuant 
          to the Indenture will secure the Notes.
Item 3. 	Legal Proceedings
          N/A

Item 4. 	Submission of Matters to a Vote of Security Holders
          N/A



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PART II

Item 5. 	Market For Registrant's Common Equity and Related Stockholder Matters

All holders of records of the Class A Certificates issued by Honda Auto 
          Receivables 1999-1 Owner Trust (except for American Honda Receivables Corp.)
          are registered through the nominee of Cede.

Item 6. 	Selected Financial Data
          N/A

Item 7. 	Management's Discussion and Analysis of Financial Condition and Results of Operations
          N/A

Item 8. 	Financial Statements and Supplementary Data
          N/A

Item 9. 	Changes In and Disagreements with Accountants on Accounting and Financial Disclosure
          N/A



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PART III

Item 10.	Directors and Executive Officers of the Registrant
          N/A

Item 11.	Executive Compensation
          N/A

Item 12.	Security Ownership of Certain Beneficial Owners and Management
          N/A

Item 13.	Certain Relationships and Related Transactions
          N/A



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PART IV

Item14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

(a) Exhibit No. 99

Description

Annual Statement to the Trustees pursuant to Section 3.12 of the Sale and Servicing Agreement, dated as of January 1, 1999 among American Honda Receivables Corp., as Transferor, American Honda Finance Corporation, as Servicer, and Honda Auto Receivables 
1999-1 Owner Trust, as Issuer and The Bank of New York, as Owner Trustee, and Bankers Trust Company, as Indenture Trustee.

(b) Reports

|Form 8K | Reports                | Date          
|------- | ---------------------- | --------------
|        | The month of Apr. 2001 | (May.15, 2001)
|        | The month of May. 2001 | (Jun.15, 2001)
|        | The month of Jun. 2001 | (Jul.16, 2001)
|        | The month of Jul. 2001 | (Aug.15, 2001)
|        | The month of Aug. 2001 | (Sep.17, 2001)
|        | The month of Sep. 2001 | (Oct.15, 2001)
|        | The month of Oct. 2001 | (Nov.15, 2001)
|        | The month of Nov. 2001 | (Dec.17, 2001)
|        | The month of Dec. 2001 | (Jan.15, 2002)
|        | The month of Jan. 2002 | (Feb.15, 2002)
|        | The month of Feb. 2002 | (Mar.15, 2002)
|        | The month of Mar. 2002 | (Apr.15, 2002)





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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Honda Auto Receivables 1999-1 Owner Trust
By: American Honda Finance Corporation, as Servicer
(Registrant)

By:/s/ John I. Weisickle
John I. Weisickle, Vice President