Exhibit 99.1

page 1

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

|                                                    |  |  |                   |  |  |  |  |        |  |  |  |  |  |  |  |  |  |  |  |  |  |
|----------------------------------------------------|--|--|-------------------|--|--|--|--|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|
| I. ORIGINAL DEAL PARAMETER INPUTS                  |
| (A) Total Portfolio Balance                        |  |  | $1,251,850,506.56 |  |  |  |  |   |  |
| (B) Total Securities Balance                       |  |  | $1,251,850,506.56 |  |  |  |  |   |  |
| (C) Class A-1 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-1 Notes Balance                        |  |  | $319,000,000.00   |  |  |  |  |   |  |
| (ii) Class A-1 Notes Percentage (C(i)/B)           |  |  | 25.48%            |  |  |  |  |   |  |
| (iii) Class A-1 Notes Rate                         |  |  | 5.32200%          |  |  |  |  |   |  |
| (iv) Class A-1 Notes Accrual Basis                 |  |  | Actual/360        |  |  |  |  |   |  |
| (D) Class A-2 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-2 Notes Balance                        |  |  | $329,000,000.00   |  |  |  |  |   |  |
| (ii) Class A-2 Notes Percentage (D(i)/B)           |  |  | 26.28%            |  |  |  |  |   |  |
| (iii) Class A-2 Notes Rate                         |  |  | 5.250%            |  |  |  |  |   |  |
| (iv) Class A-2 Notes Accrual Basis                 |  |  | 30/360            |  |  |  |  |   |  |
| (E) Class A-3 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-3 Notes Balance                        |  |  | $389,000,000.00   |  |  |  |  |   |  |
| (ii) Class A-3 Notes Percentage (E(i)/B)           |  |  | 31.07%            |  |  |  |  |   |  |
| (iii) Class A-3 Notes Rate                         |  |  | 5.100%            |  |  |  |  |   |  |
| (iv) Class A-3 Notes Accrual Basis                 |  |  | 30/360            |  |  |  |  |   |  |
| (F) Class A-4 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-4 Notes Balance                        |  |  | $174,170,000.00   |  |  |  |  |   |  |
| (ii) Class A-4 Notes Percentage (F(i)/B)           |  |  | 13.91%            |  |  |  |  |   |  |
| (iii) Class A-4 Notes Rate                         |  |  | 5.090%            |  |  |  |  |   |  |
| (iv) Class A-4 Notes Accrual Basis                 |  |  | 30/360            |  |  |  |  |   |  |
| (G) Certificates                                   |  |  |              |  |  |  |  |   |  |
| (i) Certificates Balance                           |  |  | $40,680,506.56    |  |  |  |  |   |  |
| (ii) Certificates Percentage (G(i)/B)              |  |  | 3.25%             |  |  |  |  |   |  |
| (iii) Certificates Rate                            |  |  | 0.000%            |  |  |  |  |   |  |
| (iv) Certificates Accrual Basis                    |  |  | 30/360            |  |  |  |  |   |  |
| (H) Servicing Fee Rate                             |  |  | 1.00%             |  |  |  |  |   |  |
| (I) Portfolio Summary                              |  |  |              |  |  |  |  |   |  |
| (i) Weighted Average Coupon (WAC)                  |  |  | 6.05%             |  |  |  |  |   |  |
| (ii) Weighted Average Original Maturity (WAOM)     |  |  | 56.42             |  |  |  |  | months |  |
| (iii) Weighted Average Remaining Maturity (WAM)    |  |  | 50.35             |  |  |  |  | months |  |
| (iv) Number of Receivables                         |  |  | 69,274            |  |  |  |  |   |  |
| (J) Reserve Fund                                   |  |  |              |  |  |  |  |   |  |
| (i) Reserve Account Initial Deposit Percentage     |  |  | 0.50%             |  |  |  |  |   |  |
| (ii) Reserve Account Initial Deposit               |  |  | $6,259,252.53     |  |  |  |  |   |  |
| (iii) Specified Reserve Account Percentage         |  |  | 0.50%             |  |  |  |  |   |  |
| (iv) Specified Reserve Account Balance             |  |  | $6,259,252.53     |  |  |  |  |   |  |
|                                               |  |  |              |  |  |  |  |   |  |
| (K) Yield Supplement Account Deposit               |  |  | $27,198,157.14    |  |  |  |  |   |  |
|                                               |  |  |              |  |  |  |  |   |  |
|                                               |  |  |              |  |  |  |  |   |  |
| II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS  |  |  |              |  |  |  |  |   |  |
| (A) Total Portfolio Balance                        |  |  | $1,251,850,506.56 |  |  |  |  |   |  |
| (B) Total Securities Balance                       |  |  | $1,251,850,506.56 |  |  |  |  |   |  |
| (C) Cumulative Note and Certificate Pool Factor    |  |  | 1.0000000         |  |  |  |  |   |  |
| (D) Class A-1 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-1 Notes Balance                        |  |  | $319,000,000.00   |  |  |  |  |   |  |
| (ii) Class A-1 Notes Pool Factor                   |  |  | 1.0000000         |  |  |  |  |   |  |
| (iii) Class A-1 Notes Interest Carryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |
| (iv) Class A-1 Notes Principal Carryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |

----

page 2

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

|                                                                     |  |  |                 |  |  |  |  |        |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|--|--|-----------------|--|--|--|--|--------|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (E) Class A-2 Notes                                                 |  |  |            |  |  |  |  |   |  |
| (i) Class A-2 Notes Balance                                         |  |  | $329,000,000.00 |  |  |  |  |   |  |
| (ii) Class A-2 Notes Pool Factor                                    |  |  | 1.0000000       |  |  |  |  |   |  |
| (iii) Class A-2 Notes Interest Carryover Shortfall                  |  |  | $0.00           |  |  |  |  |   |  |
| (iv) Class A-2 Notes Principal Carryover Shortfall                  |  |  | $0.00           |  |  |  |  |   |  |
| (F) Class A-3 Notes                                                 |  |  |            |  |  |  |  |   |  |
| (i) Class A-3 Notes Balance                                         |  |  | $389,000,000.00 |  |  |  |  |   |  |
| (ii) Class A-3 Notes Pool Factor                                    |  |  | 1.0000000       |  |  |  |  |   |  |
| (iii) Class A-3 Notes Interest Carryover Shortfall                  |  |  | $0.00           |  |  |  |  |   |  |
| (iv) Class A-3 Notes Principal Carryover Shortfall                  |  |  | $0.00           |  |  |  |  |   |  |
| (G) Class A-4 Notes                                                 |  |  |            |  |  |  |  |   |  |
| (i) Class A-4 Notes Balance                                         |  |  | $174,170,000.00 |  |  |  |  |   |  |
| (ii) Class A-4 Notes Pool Factor                                    |  |  | 1.0000000       |  |  |  |  |   |  |
| (iii) Class A-4 Notes Interest Carryover Shortfall                  |  |  | $0.00           |  |  |  |  |   |  |
| (iv) Class A-4 Notes Principal Carryover Shortfall                  |  |  | $0.00           |  |  |  |  |   |  |
| (H) Certificates                                                    |  |  |            |  |  |  |  |   |  |
| (i) Certificates Balance                                            |  |  | $40,680,506.56  |  |  |  |  |   |  |
| (ii) Certificates Pool Factor                                       |  |  | 1.0000000       |  |  |  |  |   |  |
| (iii) Certificates Interest Carryover Shortfall                     |  |  | $0.00           |  |  |  |  |   |  |
| (iv) Certificates Principal Carryover Shortfall                     |  |  | $0.00           |  |  |  |  |   |  |
| (I) Servicing Fee                                                   |  |  |            |  |  |  |  |   |  |
| (i) Servicing Fee Shortfall                                         |  |  | $0.00           |  |  |  |  |   |  |
| (J) End of Prior Month Account Balances                             |  |  |            |  |  |  |  |   |  |
| (i) Reserve Account                                                 |  |  | $6,259,252.53   |  |  |  |  |   |  |
| (ii) Yield Supplement Account                                       |  |  | $27,198,157.14  |  |  |  |  |   |  |
| (iii) Payahead Account                                              |  |  | $0.00           |  |  |  |  |   |  |
| (iv) Advances Outstanding                                           |  |  | $0.00           |  |  |  |  |   |  |
| (K) Portfolio Summary as of End of Prior Year                       |  |  |            |  |  |  |  |   |  |
| (i) Weighted Average Coupon (WAC)                                   |  |  | 6.05%           |  |  |  |  |   |  |
| (ii) Weighted Average Remaining Maturity (WAM)                      |  |  | 50.35           |  |  |  |  | months |  |
| (iii) Number of Receivables                                         |  |  | 69,274          |  |  |  |  |   |  |
| (L) Note and Certificate Percentages                                |  |  |            |  |  |  |  |   |  |
| (i) Note Percentage                                                 |  |  | 100.00%         |  |  |  |  |   |  |
| (ii) Certificate Percentage                                         |  |  | 0.00%           |  |  |  |  |   |  |
|                                                                |  |  |            |  |  |  |  |   |  |
| III. INPUTS FROM THE MAINFRAME                                      |  |  |            |  |  |  |  |   |  |
| (A) Precomputed Contracts Principal                                 |  |  |            |  |  |  |  |   |  |
| (i) Scheduled Principal Collections                                 |  |  | $0.00           |  |  |  |  |   |  |
| (ii) Prepayments in Full                                            |  |  | $0.00           |  |  |  |  |   |  |
| (iii) Prepayments in Full due to Repurchases                        |  |  | $0.00           |  |  |  |  |   |  |
| (B) Precomputed Contracts Total Collections                         |  |  | $0.00           |  |  |  |  |   |  |
| (C) Precomputed Interest Receivables Interest (B-A((i)+(ii)+(iii))) |  |  | $0.00           |  |  |  |  |   |  |
| (D) Simple Interest Receivables Principal                           |  |  |            |  |  |  |  |   |  |
| (i) Principal Collections                                           |  |  | $52,180,513.81  |  |  |  |  |   |  |
| (ii) Prepayments in Full                                            |  |  | $23,640,839.72  |  |  |  |  |   |  |
| (iii) Repurchased Receivables Related to Principal                  |  |  | $0.00           |  |  |  |  |   |  |
| (E) Simple Interest Receivables Interest                            |  |  |            |  |  |  |  |   |  |
| (i) Simple Interest Collections                                     |  |  | $12,081,852.22  |  |  |  |  |   |  |
| (F) Payment Advance for Precomputes                                 |  |  |            |  |  |  |  |   |  |
| (i) Reimbursement of Previous Advances                              |  |  | $0.00           |  |  |  |  |   |  |
| (ii) Current Advance Amount                                         |  |  | $0.00           |  |  |  |  |   |  |
| (G) Interest Advance for simple Interest - Net                      |  |  | $439,436.26     |  |  |  |  |   |  |

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page 3

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

|                                                                         |  |  |                |  |  |                                |  |        |                |  |  |       |  |        |        |  |  |  |  |        |  |
|-------------------------------------------------------------------------|--|--|----------------|--|--|--------------------------------|--|--------|----------------|--|--|-------|--|--------|--------|--|--|--|--|--------|--|
| (H) Payahead Account                                                    |  |  |           |  |  |                                |  |   |                |
| (i) Payments Applied                                                    |  |  | $0.00          |  |  |                                |  |   |                |
| (ii) Additional Payaheads                                               |  |  | $0.00          |  |  |                                |  |   |                |
| (I) Portfolio Summary as of End of Month                                |  |  |           |  |  |                                |  |   |                |
| (i) Weighted Average Coupon (WAC)                                       |  |  | 6.06%          |  |  |                                |  |   |                |
| (ii) Weighted Average Remaining Maturity (WAM)                          |  |  | 48.31          |  |  |                                |  | months |                |
| (iii) Remaining Number of Receivables                                   |  |  | 67,750         |  |  |                                |  |   |                |
| (J) Delinquent Receivables                                              |  |  | # Units        |  |  | Dollar   Amount |  |        |           |  |  |       |  |   |        |
| (i) 31-60 Days Delinquent                                               |  |  | 665            |  |  | 0.98%                          |  |        | $11,139,563.13 |  |  | 0.95% |  |        |   |  |  |  |  |   |  |
| (ii) 61-90 Days Delinquent                                              |  |  | 1              |  |  | 0.00%                          |  |        | $20,074.03     |  |  | 0.00% |  |        |   |  |  |  |  |   |  |
| (ii) 91 Days or More Delinquent                                         |  |  | 1              |  |  | 0.00%                          |  |        | $8,008.40      |  |  | 0.00% |  |        |   |  |  |  |  |   |  |
| (K) Vehicles Repossessed During Collection Period                       |  |  | 20             |  |  | 0.03%                          |  |        | $355,415.92    |  |  | 0.03% |  |        |   |  |  |  |  |   |  |
| (L) Total Accumulated Repossessed Vehicles in Inventory                 |  |  | 22             |  |  | 0.03%                          |  |        | $403,885.54    |  |  | 0.03% |  |        |   |  |  |  |  |   |  |
|                                                                    |  |  |           |  |  |                                |  |   |                |
| IV. INPUTS DERIVED FROM OTHER SOURCES                                   |  |  |           |  |  |                                |  |   |                |
| (A) Collection Account Investment Income                                |  |  | $0.00          |  |  |                                |  |   |                |
| (B) Reserve Account Investment Income                                   |  |  | $29,773.20     |  |  |                                |  |   |                |
| (C) Yield Supplement Account Investment Income                          |  |  | $125,869.92    |  |  |                                |  |   |                |
| (D) Trust Fees Expense                                                  |  |  | $5,000.00      |  |  |                                |  |   |                |
| (E) Aggregate Net Losses for Collection Period                          |  |  | $4,164.48      |  |  |                                |  |   |                |
| (F) Liquidated Receivables Information                                  |  |  |           |  |  |                                |  |   |                |
| (i) Gross Principal Balance on Liquidated Receivables                   |  |  | $16,264.96     |  |  |                                |  |   |                |
| (ii) Liquidation Proceeds                                               |  |  | $12,100.48     |  |  |                                |  |   |                |
| (ii) Recoveries from Prior Month Charge Offs                            |  |  | $0.00          |  |  |                                |  |   |                |
| (G) Days in Accrual Period                                              |  |  | 50             |  |  |                                |  |   |                |
| (H) Deal age                                                            |  |  | 2              |  |  |                                |  |   |                |
|                                                                    |  |  |           |  |  |                                |  |   |                |
| COLLECTIONS                                                             |
|                                                                    |  |  |           |  |  |                                |  |   |                |
| V. INTEREST COLLECTIONS                                                 |  |  |           |  |  |                                |  |   |                |
| (A) Total Interest Collections (III(C+E(i)+G)                           |  |  | $12,521,288.48 |  |  |                                |  |   |                |
|                                                                    |  |  |           |  |  |                                |  |   |                |
| VI. PRINCIPAL COLLECTIONS                                               |  |  |           |  |  |                                |  |   |                |
| (A) Principal Payments Received (III(A((i)+(ii))+(D(i)+(ii)))           |  |  | $75,821,353.53 |  |  |                                |  |   |                |
| (B) Liquidation Proceeds (IV(H(i)))                                     |  |  | $12,100.48     |  |  |                                |  |   |                |
| (C) Repurchased Loan Proceeds Related to Principal (III(A(iii)+D(iii))) |  |  | $0.00          |  |  |                                |  |   |                |
| (D) Recoveries from Prior Charge Offs (IV(H(ii)))                       |  |  | $0.00          |  |  |                                |  |   |                |
| (E) Total Principal Collections (A+B+C+D)                               |  |  | 75,833,454.01  |  |  |                                |  |   |                |
|                                                                    |  |  |           |  |  |                                |  |   |                |
| VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS (V(C)+VI(E))              |  |  | 88,354,742.49  |  |  |                                |  |   |                |
|                                                                    |  |  |           |  |  |                                |  |   |                |
| VIII. YIELD SUPPLEMENT DEPOSIT                                          |  |  | $3,075,679.17  |  |  |                                |  |   |                |
|                                                                    |  |  |           |  |  |                                |  |   |                |
| IX. TOTAL AVAILABLE AMOUNT (VII+VIII)                                   |  |  | 91,430,421.66  |  |  |                                |  |   |                |

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page 4

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

|                                                                                                                |  |  |  |  |                |  |
|----------------------------------------------------------------------------------------------------------------|--|--|--|--|----------------|--|
| DISTRIBUTIONS                                                                                                  |
| X.    FEE DISTRIBUTIONS                                                                    |  |  |  |  |           |  |
| (A) Servicing Fee                                                                                              |  |  |  |  |           |  |
| (i) Servicing Fee Due (I(H)/12)(II(B))+(II(H)(i))                                                              |  |  |  |  | $2,055,873.72  |  |
| (ii) Servicing Fee Paid                                                                                        |  |  |  |  | 2,055,873.72   |  |
| (iii) Servicing Fee Shortfall                                                                                  |  |  |  |  | $0.00          |  |
| (B) Reserve Account Investment Income (IV(B))                                                                  |  |  |  |  | $29,773.20     |  |
| (C) Yield Supplement Account Investment Income (IV(C))                                                         |  |  |  |  | $0.00          |  |
| (D) Trust Fees Expense (IV(D))                                                                                 |  |  |  |  | $5,000.00      |  |
|                                                                                                           |  |  |  |  |           |  |
| XI.    DISTRIBUTIONS TO NOTEHOLDERS                                                        |  |  |  |  |           |  |
| (A) Interest                                                                                                   |  |  |  |  |           |  |
| (i) Class A-1 Notes                                                                                            |  |  |  |  |           |  |
|            (a) Class A-1 Notes Interest Due             |  |  |  |  | $2,195,387.60  |  |
|            (b) Class A-1 Notes Interest Paid            |  |  |  |  | 2,195,387.60   |  |
|            (c) Class A-1 Notes Interest Shortfall       |  |  |  |  | $0.00          |  |
| (ii) Class A-2 Notes                                                                                           |  |  |  |  |           |  |
|            (a) Class A-2 Notes Interest Due             |  |  |  |  | $2,446,937.50  |  |
|            (b) Class A-2 Notes Interest Paid            |  |  |  |  | 2,446,937.50   |  |
|            (c) Class A-2 Notes Interest Shortfall       |  |  |  |  | $0.00          |  |
| (iii) Class A-3 Notes                                                                                          |  |  |  |  |           |  |
|            (a) Class A-3 Notes Interest Due             |  |  |  |  | $2,810,525.00  |  |
|            (b) Class A-3 Notes Interest Paid            |  |  |  |  | 2,810,525.00   |  |
|            (c) Class A-3 Notes Interest Shortfall       |  |  |  |  | $0.00          |  |
| (iv) Class A-4 Notes                                                                                           |  |  |  |  |           |  |
|            (a) Class A-4 Notes Interest Due             |  |  |  |  | $1,255,910.84  |  |
|            (b) Class A-4 Notes Interest Paid            |  |  |  |  | 1,255,910.84   |  |
|            (c) Class A-4 Notes Interest Shortfall       |  |  |  |  | $0.00          |  |
| (v) Total Note Interest                                                                                        |  |  |  |  |           |  |
|            (a) Total Note Interest Due                  |  |  |  |  | $8,708,760.94  |  |
|            (b) Total Note Interest Paid                 |  |  |  |  | 8,708,760.94   |  |
|            (c) Total Note Interest Shortfall            |  |  |  |  | $0.00          |  |
|            (d) Reserve Fund Withdrawn for Note Interest |  |  |  |  | $0.00          |  |
| Amount available for distributions after Fees & Interest (VIII-(IX(A)(ii)-(D))-X(A)(v)(b))                 |  |  |  |  | 80,660,787.00  |  |
| (B) Principal                                                                                                  |  |  |  |  |           |  |
| (i) Noteholders’ Principal Distribution Amounts                                                          |  |  |  |  | $75,837,618.49 |  |
| (ii) Class A-1 Notes Principal                                                                                 |  |  |  |  |           |  |
|            (a) Class A-1 Notes Principal Due            |  |  |  |  | 75,837,618.49  |  |
|            (b) Class A-1 Notes Principal Paid           |  |  |  |  | 75,837,618.49  |  |
|            (c) Class A-1 Notes Principal Shortfall      |  |  |  |  | $0.00          |  |
|            (d) Reserve Fund drawn                       |  |  |  |  | $0.00          |  |
| (iii) Class A-2 Notes Principal                                                                                |  |  |  |  |           |  |
|            (a) Class A-2 Notes Principal Due            |  |  |  |  | $0.00          |  |
|            (b) Class A-2 Notes Principal Paid           |  |  |  |  | 0.00           |  |
|            (c) Class A-2 Notes Principal Shortfall      |  |  |  |  | $0.00          |  |
|            (d) Reserve Fund drawn                       |  |  |  |  | $0.00          |  |
| (iv) Class A-3 Notes Principal                                                                                 |  |  |  |  |           |  |
|            (a) Class A-3 Notes Principal Due            |  |  |  |  | $0.00          |  |
|            (b) Class A-3 Notes Principal Paid           |  |  |  |  | 0.00           |  |
|            (c) Class A-3 Notes Principal Shortfall      |  |  |  |  | $0.00          |  |

----

page 5

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

|                                                                                                           |  |  |  |  |                |  |
|-----------------------------------------------------------------------------------------------------------|--|--|--|--|----------------|--|
|            (d) Reserve Fund drawn                  |  |  |  |  | $0.00          |  |
| (v) Class A-4 Notes Principal                                                                             |  |  |  |  |           |  |
|            (a) Class A-4 Notes Principal Due       |  |  |  |  | $0.00          |  |
|            (b) Class A-4 Notes Principal Paid      |  |  |  |  | 0.00           |  |
|            (c) Class A-4 Notes Principal Shortfall |  |  |  |  | $0.00          |  |
|            (d) Reserve Fund drawn                  |  |  |  |  | $0.00          |  |
| (vi) Total Notes Principal                                                                                |  |  |  |  |           |  |
|            (a) Total Notes Principal Due           |  |  |  |  | $75,837,618.49 |  |
|            (b) Total Notes Principal Paid          |  |  |  |  | 75,837,618.49  |  |
|            (c) Total Notes Principal Shortfall     |  |  |  |  | $0.00          |  |
|            (d) Reserve Fund drawn                  |  |  |  |  | $0.00          |  |
| Amount available for distributions to the Certificates and Reserve Fund                                   |  |  |  |  | 4,823,168.51   |  |
| XIII.    DISTRIBUTIONS TO CERTIFICATEHOLDERS                                          |  |  |  |  |           |  |
| (A) Interest                                                                                              |  |  |  |  |           |  |
| (i) Certificate Monthly Interest Due                                                                      |  |  |  |  | $0.00          |  |
| (ii) Certificate Interest Shortfall Beginning Balance                                                     |  |  |  |  | $0.00          |  |
| (iii) Total Certificate Interest Due                                                                      |  |  |  |  | $0.00          |  |
| (iv) Certificate Interest Paid                                                                            |  |  |  |  | 0.00           |  |
| (v) Certificate Interest Shortfall Ending Balance                                                         |  |  |  |  | $0.00          |  |
| (B) Principal                                                                                             |  |  |  |  |           |  |
| (i) Certificate Monthly Principal Due                                                                     |  |  |  |  | $0.00          |  |
| (ii) Certificate Principal Shortfall Beginning Balance                                                    |  |  |  |  | $0.00          |  |
| (iii) Total Certificate Principal Due                                                                     |  |  |  |  | $0.00          |  |
| (iv) Certificate Principal Paid                                                                           |  |  |  |  | 0.00           |  |
| (v) Certificate Principal Shortfall Ending Balance                                                        |  |  |  |  | $0.00          |  |
| XII.    RESERVE FUND DEPOSIT                                                          |  |  |  |  |           |  |
| Amount available for deposit into reserve account                                                         |  |  |  |  | $4,823,168.51  |  |
| Amount deposited into reserve account                                                                     |  |  |  |  | $0.00          |  |
| Excess Amount Released from Reserve Account                                                               |  |  |  |  | $0.00          |  |
| Excess funds available to Certificateholders                                                              |  |  |  |  | $4,823,168.51  |  |
| DISTRIBUTIONS SUMMARY                                                                                     |
| (A) Total Collections                                                                                     |  |  |  |  | $91,430,421.66 |  |
| (B) Service Fee                                                                                           |  |  |  |  | $2,055,873.72  |  |
| (C) Trustee Fees                                                                                          |  |  |  |  | $5,000.00      |  |
| (D) Class A1 Amount                                                                                       |  |  |  |  | $78,033,006.09 |  |
| (E) Class A2 Amount                                                                                       |  |  |  |  | 2,446,937.50   |  |
| (F) Class A3 Amount                                                                                       |  |  |  |  | $2,810,525.00  |  |
| (G) Class A4 Amount                                                                                       |  |  |  |  | $1,255,910.84  |  |
| (H) Certificateholders                                                                                    |  |  |  |  | $0.00          |  |
| (I) Amount Deposited into Reserve Account                                                                 |  |  |  |  | $0.00          |  |
| (J) Release to seller                                                                                     |  |  |  |  | $4,823,168.51  |  |
| (K) Total amount distributed                                                                              |  |  |  |  | $91,430,421.66 |  |
| (L) Amount of Draw from Reserve Account                                                                   |  |  |  |  | $0.00          |  |
| (M) Excess Amount Released from Reserve Account                                                           |  |  |  |  | $0.00          |  |

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page 6

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

|                                                |  |  |                                                |   |               |  |   |              |  |
|------------------------------------------------|--|--|------------------------------------------------|---|---------------|--|---|--------------|--|
| DISTRIBUTION TO SECURITYHOLDERS                |
| Note Interest Distribution Amount              |  |  |                                           |   |               |  | $ | 8,708,760.94 |  |
| Class A-1 Notes:                               |  |  | ($3.93 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-2 Notes:                               |  |  | ($4.38 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-3 Notes:                               |  |  | ($4.25 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-4 Notes:                               |  |  | ($4.24 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Note Principal Distribution Amount             |  |  |                                                | $ | 75,837,618.49 |  |
| Class A-1 Notes:                               |  |  | ($122.84 per $1,000 original principal amount) |   |               |  |   |         |  |
| Class A-2 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-3 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-4 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Note Interest Carryover Shortfall              |  |  |                                           |   |               |  |   | 0.00         |  |
| Change from immediately preceding Payment Date |  |  |                                                |   | 0.00          |  |
| Class A-1 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-2 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-3 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-4 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Note Principal Carryover Shortfall             |  |  |                                           |   |               |  |   | 0.00         |  |
| Change from immediately preceding Payment Date |  |  |                                                |   | 0.00          |  |
| Class A-1 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-2 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-3 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Class A-4 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Certificate Interest Distribution Amount       |  |  |                                                |   | 0.00          |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Certificate Principal Distribution Amount      |  |  |                                                |   | 0.00          |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Certificate Interest Carryover Shortfall       |  |  |                                                |   | 0.00          |  |
| Change from immediately preceding Payment Date |  |  |                                                |   | 0.00          |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |
| Certificate Principal Carryover Shortfall      |  |  |                                                |   | 0.00          |  |
| Change from immediately preceding Payment Date |  |  |                                                |   | 0.00          |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount)   |   |               |  |   |         |  |

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page 7

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

PORTFOLIO AND SECURITY SUMMARY

|                                                          |  |  |        |  |  |                    |  |  |                   |  |        |              |  |        |                   |  |  |                   |  |        |  |  |        |  |
|----------------------------------------------------------|--|--|--------|--|--|--------------------|--|--|-------------------|--|--------|--------------|--|--------|-------------------|--|--|-------------------|--|--------|--|--|--------|--|
| XIV. POOL BALANCES AND PORTFOLIO INFORMATION             |  |  |   |  |  | Beginningof Period |  |  |              |  |        | Endof Period |  |        |              |
| (A) Balances and Principal Factors                       |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  |              |  |        |  |  |   |  |
| (i) Aggregate Balance of Notes                           |  |  |   |  |  | $1,211,170,000.00  |  |  |                   |  |   |              |  |        | $1,135,332,381.51 |  |  |                   |  |   |  |
| (ii) Note Pool Factor                                    |  |  |   |  |  |               |  |  | 1.0000000         |  |        |              |  |   |                   |  |  | 0.9373848         |  |        |  |  |   |  |
| (iii) Class A-1 Notes Balance                            |  |  |   |  |  |               |  |  | 319,000,000.00    |  |        |              |  |   |                   |  |  | 243,162,381.51    |  |        |  |  |   |  |
| (iv) Class A-1 Notes Pool Factor                         |  |  |   |  |  |               |  |  | 1.0000000         |  |        |              |  |   |                   |  |  | 0.7622645         |  |        |  |  |   |  |
| (v) Class A-2 Notes Balance                              |  |  |   |  |  |               |  |  | 329,000,000.00    |  |        |              |  |   |                   |  |  | 329,000,000.00    |  |        |  |  |   |  |
| (vi) Class A-2 Notes Pool Factor                         |  |  |   |  |  |               |  |  | 1.0000000         |  |        |              |  |   |                   |  |  | 1.0000000         |  |        |  |  |   |  |
| (vii) Class A-3 Notes Balance                            |  |  |   |  |  |               |  |  | 389,000,000.00    |  |        |              |  |   |                   |  |  | 389,000,000.00    |  |        |  |  |   |  |
| (viii) Class A-3 Notes Pool Factor                       |  |  |   |  |  |               |  |  | 1.0000000         |  |        |              |  |   |                   |  |  | 1.0000000         |  |        |  |  |   |  |
| (ix) Class A-4 Notes Balance                             |  |  |   |  |  |               |  |  | 174,170,000.00    |  |        |              |  |   |                   |  |  | 174,170,000.00    |  |        |  |  |   |  |
| (x) Class A-4 Notes Pool Factor                          |  |  |   |  |  |               |  |  | 1.0000000         |  |        |              |  |   |                   |  |  | 1.0000000         |  |        |  |  |   |  |
| (xi) Certificates Balance                                |  |  |   |  |  |               |  |  | 40,680,506.56     |  |        |              |  |   |                   |  |  | 40,680,506.56     |  |        |  |  |   |  |
| (xii) Certificates Pool Factor                           |  |  |   |  |  |               |  |  | 1.0000000         |  |        |              |  |   |                   |  |  | 1.0000000         |  |        |  |  |   |  |
| (xiii) Total Principal Balance of Notes and Certificates |  |  |   |  |  | 1,251,850,506.56   |  |  |                   |  |   |              |  |        | 1,176,012,888.07  |  |  |                   |  |   |  |
| (B) Portfolio Information                                |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  |              |  |        |  |  |   |  |
| (i) Weighted Average Coupon (WAC)                        |  |  |   |  |  |               |  |  | 6.05%             |  |        |              |  |   |                   |  |  | 6.06%             |  |        |  |  |   |  |
| (ii) Weighted Average Remaining Maturity (WAM)           |  |  |   |  |  | 50.35              |  |  |                   |  | months |              |  |        | 48.31             |  |  |                   |  | months |  |
| (iii) Remaining Number of Receivables                    |  |  |   |  |  |               |  |  | 69,274            |  |        |              |  |   |                   |  |  | 67,750            |  |        |  |  |   |  |
| (iv) Portfolio Receivable Balance                        |  |  |   |  |  |               |  |  | $1,251,850,506.56 |  |        |              |  |   |                   |  |  | $1,176,012,888.07 |  |        |  |  |   |  |
| (C) Outstanding Advance Amount                           |  |  |   |  |  |               |  |  | $0.00             |  |        |              |  |   |                   |  |  | $439,436.26       |  |        |  |  |   |  |
| (D) Outstanding Payahead Balance                         |  |  |   |  |  |               |  |  | $0.00             |  |        |              |  |   |                   |  |  | $0.00             |  |        |  |  |   |  |
| SUMMARY OF ACCOUNTS                                      |
| XV. RECONCILIATION OF RESERVE ACCOUNT                    |
| (A) Beginning Reserve Account Balance                    |  |  |   |  |  |               |  |  |                   |  |   |              |  |        | $6,259,252.53     |  |  |                   |  |   |  |
| (B) Draws                                                |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  |              |  |        |  |  |   |  |
| (i) Draw for Servicing Fee                               |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 0.00              |  |        |  |  |   |  |
| (ii) Draw for Interest                                   |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 0.00              |  |        |  |  |   |  |
| (iii) Draw for Realized Losses                           |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 0.00              |  |        |  |  |   |  |
| (C) Excess Interest Deposited into the Reserve Account   |  |  |   |  |  |               |  |  |                   |  |   |              |  |        | 0.00              |  |  |                   |  |   |  |
| (E) Reserve Account Balance Prior to Release             |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 6,259,252.53      |  |        |  |  |   |  |
| (F) Reserve Account Required Amount                      |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 6,259,252.53      |  |        |  |  |   |  |
| (G) Final Reserve Account Required Amount                |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 6,259,252.53      |  |        |  |  |   |  |
| (H) Excess Reserve Account Amount                        |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 0.00              |  |        |  |  |   |  |
| (I) Release of Reserve Account Balance to Seller         |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 0.00              |  |        |  |  |   |  |
| (J) Ending Reserve Account Balance                       |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 6,259,252.53      |  |        |  |  |   |  |
| XVI. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT          |
| (A) Beginning Yield Supplement Account Balance           |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 27,198,157.14     |  |        |  |  |   |  |
| (B) Investment Earnings                                  |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 125,869.92        |  |        |  |  |   |  |
| (C) Investment Earnings Withdraw                         |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 0.00              |  |        |  |  |   |  |
| (D) Additional Yield Supplement Amounts                  |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 0.00              |  |        |  |  |   |  |
| (E) Yield Supplement Deposit Amount                      |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 3,075,679.17      |  |        |  |  |   |  |
| (F) Release of Yield Deposit Account Balance to Seller   |  |  |   |  |  |               |  |  |                   |  |   |              |  |        | 0.00              |  |  |                   |  |   |  |
| (G) Ending Yield Supplement Account Balance              |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 24,248,347.89     |  |        |  |  |   |  |
| XVII. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY          |
| (A) Liquidated Contracts                                 |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  |              |  |        |  |  |   |  |
| (i) Liquidation Proceeds                                 |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | $12,100.48        |  |        |  |  |   |  |
| (ii) Recoveries on Previously Liquidated Contracts       |  |  |   |  |  |               |  |  |                   |  |   |              |  |        | 0.00              |  |  |                   |  |   |  |
| (B) Aggregate Net Losses for Collection Period           |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | 4,164.48          |  |        |  |  |   |  |
| (C) Net Loss Rate for Collection Period (annualized)     |  |  |   |  |  |               |  |  |                   |  |   |              |  |        | 0.00%             |  |  |                   |  |   |  |
| (D) Cumulative Net Losses for all Periods                |  |  |   |  |  |               |  |  |              |  |        |              |  |   |                   |  |  | $4,164.48         |  |        |  |  |   |  |

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page 8

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2007-1 Owner Trust 04/01/06 through 03/31/07

|                                                                                                         |  |  |                          |  |        |               |  |        |                      |  |        |                |  |  |        |  |  |  |  |        |         |  |  |        |
|---------------------------------------------------------------------------------------------------------|--|--|--------------------------|--|--------|---------------|--|--------|----------------------|--|--------|----------------|--|--|--------|--|--|--|--|--------|---------|--|--|--------|
| (E) Delinquent Receivables                                                                              |  |  | # Units                  |  |        | Dollar Amount |  |        |                      |  |   |                |  |  |   |
| (i) 31-60 Days Delinquent                                                                               |  |  |                          |  | 665    |               |  |        | 0.98%                |  |        | $11,139,563.13 |  |  | 0.95%  |  |  |  |  |   |         |  |  |   |
| (ii) 61-90 Days Delinquent                                                                              |  |  |                          |  | 1      |               |  |        | 0.00%                |  |        | $20,074.03     |  |  | 0.00%  |  |  |  |  |   |         |  |  |   |
| (ii) 91 Days or More Delinquent                                                                         |  |  |                          |  | 1      |               |  |        | 0.00%                |  |        | $8,008.40      |  |  | 0.00%  |  |  |  |  |   |         |  |  |   |
| XVIII. REPOSSESSION ACTIVITY                                                                            |  |  | #   Units |  |        | Dollar Amount |  |        |                 |  |        |           |
| (A) Vehicles Repossessed During Collection Period                                                       |  |  |                          |  | 20     |               |  |        | 0.03%                |  |        | $355,415.92    |  |  | 0.03%  |  |  |  |  |   |         |  |  |   |
| (B) Total Accumulated Repossessed Vehicles in Inventory                                                 |  |  |                          |  | 22     |               |  |        | 0.03%                |  |        | $403,885.54    |  |  | 0.03%  |  |  |  |  |   |         |  |  |   |
| XIX. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE                                            |  |  |                          |  |   |               |  |        |                 |
| (A) Ratio of Net Losses to the Pool Balance as of Each Collection Period                                |  |  |                     |  |        |               |  |   |                      |  |        |           |
| (i) Second Preceding Collection Period                                                                  |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.00   | %  |  |  |   |
| (ii) Preceding Collection Period                                                                        |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.00   | %  |  |  |   |
| (iii) Current Collection Period                                                                         |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.00   | %  |  |  |   |
| (iv) Three Month Average (Avg(i,ii,iii))                                                                |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.00   | %  |  |  |   |
| (B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables. |
| (i) Second Preceding Collection Period                                                                  |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.00   | %  |  |  |   |
| (ii) Preceding Collection Period                                                                        |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.01   | %  |  |  |   |
| (iii) Current Collection Period                                                                         |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.04   | %  |  |  |   |
| (iv) Three Month Average (Avg(i,ii,iii))                                                                |  |  |                          |  |   |               |  |        |                 |  |        |           |  |  |   |  |  |  |  | 0.02   | %  |  |  |   |
| (C) Loss and Delinquency Trigger Indicator                                                              |  |  |                     |  |        |          |  |        | Trigger was not hit. |  |        |           |

I hereby certify that the servicing report provided is trueand accurate to the best of my knowledge.

/s/ Paul C. Honda                Paul C. HondaAssistant Vice President, Assistant Secretaryand Compliance Officer(senior officer in charge ofthe servicing function)

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