8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   ----------

                                    FORM 8-K

                                   ----------

                                 CURRENT REPORT

                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
                                NOVEMBER 21, 2006

                                   ----------

                    HONDA AUTO RECEIVABLES 2005-1 OWNER TRUST
               (EXACT NAME OF REGISTRANT SPECIFIED IN ITS CHARTER)

                                   ----------

          DELAWARE                   333-104875-04             84-6383197
(STATE OR OTHER JURISDICTION    (COMMISSION FILE NUMBER)     (I.R.S EMPLOYER
      OF INCORPORATION)                                    IDENTIFICATION NO.)

     AMERICAN HONDA RECEIVABLES CORP.
           20800 MADRONA AVENUE
               TORRANCE, CA                                      90503
 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                     (ZIP CODE)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (310) 972-2511

- --------------------------------------------------------------------------------

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[_]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

[_]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[_]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

- --------------------------------------------------------------------------------



ITEM 8.01. OTHER EVENTS

On November 21, 2006, the principal and interest collected during the preceding
calendar month, net of certain adjustments as provided for in the Sale and
Servicing Agreement, dated as of January 1, 2005 (the "Agreement"), between
American Honda Receivables Corp., as Seller, American Honda Finance Corporation,
as Servicer, and Honda Auto Receivables 2005-1 Owner Trust, a Delaware statutory
trust, as Issuer, were distributed to holders ("Noteholders") of notes issued by
Honda Auto Receivables 2005-1 Owner Trust. In accordance with the Agreement, the
Servicer's Certificate, as defined in the Agreement, was furnished to Deutsche
Bank Trust Company Americas, as Indenture Trustee (the "Indenture Trustee") for
the benefit of the Noteholders and, as such, was distributed by the Indenture
Trustee to the Noteholders. A copy of the Servicer's Certificate is being filed
as Exhibit 20 to this Current Report on Form 8-K.

ITEM 9.01 (d). EXHIBIT 20

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       HONDA AUTO RECEIVABLES 2005-1 OWNER TRUST
                                       BY: AMERICAN HONDA FINANCE CORPORATION,
                                       AS SERVICER


                                       By: /s/ Paul C. Honda
                                           -------------------------------------
                                           Paul C. Honda
Date: November 21, 2006                    Assistant Vice President, Assistant
                                           Secretary and Compliance Officer


                                       -2-

EX-20

                                                                          page 1


                             SERVICER'S CERTIFICATE
                       AMERICAN HONDA FINANCE CORPORATION
      MONTHLY SERVICER REPORT -- Honda Auto Receivables 2005-1 Owner Trust
                 Collection Period: 10/1/2006 through 10/31/2006
                                                  Determination Date: 11/16/2006
                                                        Payment Date: 11/21/2006



I. ORIGINAL DEAL PARAMETER INPUTS
- ---------------------------------
   (A) Total Portfolio Balance                                                                            $1,352,890,312.71
   (B) Total Securities Balance                                                                           $1,352,890,312.71
   (C) Class A-1 Notes
       (i)   Class A-1 Notes Balance                                                                        $288,000,000.00
       (ii)  Class A-1 Notes Percentage (C(i)/B)                                                                     21.29%
       (iii) Class A-1 Notes Rate                                                                                  2.68600%
       (iv)  Class A-1 Notes Accrual Basis                                                                       Actual/360
   (D) Class A-2 Notes
       (i)   Class A-2 Notes Balance                                                                        $307,000,000.00
       (ii)  Class A-2 Notes Percentage (D(i)/B)                                                                     22.69%
       (iii) Class A-2 Notes Rate                                                                                    3.210%
       (iv)  Class A-2 Notes Accrual Basis                                                                           30/360
   (E) Class A-3 Notes
       (i)   Class A-3 Notes Balance                                                                        $415,000,000.00
       (ii)  Class A-3 Notes Percentage (E(i)/B)                                                                     30.68%
       (iii) Class A-3 Notes Rate                                                                                    3.530%
       (iv)  Class A-3 Notes Accrual Basis                                                                           30/360
   (F) Class A-4 Notes
       (i)   Class A-4 Notes Balance                                                                        $298,900,000.00
       (ii)  Class A-4 Notes Percentage (F(i)/B)                                                                     22.09%
       (iii) Class A-4 Notes Rate                                                                                    3.820%
       (iv)  Class A-4 Notes Accrual Basis                                                                           30/360
   (G) Certificates
       (i)   Certificates Balance                                                                            $43,990,312.71
       (ii)  Certificates Percentage (G(i)/B)                                                                         3.25%
       (iii) Certificates Rate                                                                                       3.820%
       (iv)  Certificates Accrual Basis                                                                              30/360
   (H) Servicing Fee Rate                                                                                             1.00%
   (I) Portfolio Summary
       (i)   Weighted Average Coupon (WAC)                                                                            5.02%
       (ii)  Weighted Average Original Maturity (WAOM)                                                                58.33 months
       (iii) Weighted Average Remaining Maturity (WAM)                                                                52.67 months
       (iv)  Number of Receivables                                                                                   83,437
   (J) Reserve Fund
       (i)   Reserve Account Initial Deposit Percentage                                                               0.50%
       (ii)  Reserve Account Initial Deposit                                                                  $6,764,451.56
       (iii) Specified Reserve Account Percentage                                                                     0.75%
       (iv)  Specified Reserve Account Balance                                                               $10,146,677.35
   (K) Yield Supplement Account Deposit                                                                      $13,202,261.03

II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
- -------------------------------------------------
   (A) Total Portfolio Balance                                                                              $614,994,083.32
   (B) Total Securities Balance                                                                             $614,994,083.32
   (C) Cumulative Note and Certificate Pool Factor                                                                0.4545779
   (D) Class A-1 Notes
       (i)   Class A-1 Notes Balance                                                                                  $0.00
       (ii)  Class A-1 Notes Pool Factor                                                                          0.0000000
       (iii) Class A-1 Notes Interest Carryover Shortfall                                                             $0.00
       (iv)  Class A-1 Notes Principal Carryover Shortfall                                                            $0.00
   (E) Class A-2 Notes
       (i)   Class A-2 Notes Balance                                                                                  $0.00
       (ii)  Class A-2 Notes Pool Factor                                                                          0.0000000
       (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                                                                        $289,956,494.49
       (ii)  Class A-3 Notes Pool Factor                                                                          0.6986903
       (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                                                                        $298,900,000.00
       (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                                                                            $26,137,588.83
       (ii)  Certificates Pool Factor                                                                             0.5941669
       (iii) Certificates Interest Carryover Shortfall                                                                $0.00
       (iv)  Certificates Principal Carryover Shortfall                                                               $0.00
   (I) Servicing Fee
       (i)   Servicing Fee Shortfall                                                                                  $0.00




                                                                          page 2


                       AMERICAN HONDA FINANCE CORPORATION
      MONTHLY SERVICER REPORT -- Honda Auto Receivables 2005-1 Owner Trust
                 Collection Period: 10/1/2006 through 10/31/2006
                                                  Determination Date: 11/16/2006
                                                        Payment Date: 11/21/2006



   (J) End of Prior Month Account Balances
       (i)   Reserve Account                                                                                 $10,146,677.35
       (ii)  Yield Supplement Account                                                                         $3,743,274.14
       (iii) Payahead Account                                                                                         $0.00
       (iv)  Advances Outstanding                                                                               $342,600.11
   (K) Portfolio Summary as of End of Prior Month
       (i)   Weighted Average Coupon (WAC)                                                                            4.90%
       (ii)  Weighted Average Remaining Maturity (WAM)                                                                32.31 months
       (iii) Number of Receivables                                                                                   60,371
   (L) Note and Certificate Principal Distribution Percentages
       (i)   Note Percentage                                                                                         95.87%
       (ii)  Certificate Percentage                                                                                   4.13%

III. MONTHLY 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 Collections                                                                              $0.00
   (C) Precomputed Receivables Interest (B-A((i)+(ii)+(iii)))                                                         $0.00
   (D) Simple Interest Receivables Principal
       (i)   Principal Collections                                                                           $19,578,317.29
       (ii)  Prepayments in Full                                                                              $9,349,680.24
       (iii) Repurchased Receivables Related to Principal                                                             $0.00
   (E) Simple Interest Receivables Interest
       (i)   Simple Interest Collections                                                                      $2,515,649.49
   (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                                                               ($35,591.63)
   (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)                                                                            4.90%
       (ii)  Weighted Average Remaining Maturity (WAM)                                                                31.35 months
       (iii) Remaining Number of Receivables                                                                         59,290
   (J) Delinquent Receivables                                   # Units           Dollar Amount
                                                             -------------   ----------------------
       (i)   31-60 Days Delinquent                           1,786   3.01%   $19,210,685.56   3.28%
       (ii)  61-90 Days Delinquent                             380   0.64%    $4,271,919.09   0.73%
       (iii) 91 Days or More Delinquent                         72   0.12%      $881,298.57   0.15%
   (K) Vehicles Repossessed During Collection Period            28   0.05%      $335,379.77   0.06%
   (L) Total Repossessed Vehicles in Inventory                  47   0.08%      $603,563.98   0.10%

IV. INPUTS DERIVED FROM OTHER SOURCES
- -------------------------------------
      (A) Collection Account Investment Income                                                                        $0.00
      (B) Reserve Account Investment Income                                                                      $45,575.72
      (C) Yield Supplement Account Investment Income                                                             $17,749.51
      (D) Trust Fees Expense                                                                                          $0.00
      (E) Aggregate Net Losses for Collection Period                                                             218,114.86
      (F) Liquidated Receivables Information
          (i)   Gross Principal Balance on Liquidated Receivables                                                742,931.06
          (ii)  Liquidation Proceeds                                                                             323,062.93
          (iii) Recoveries from Prior Month Charge Offs                                                          201,753.27
      (G) Days in Accrual Period                                                                                         29
      (H) Deal age                                                                                                       22

                               MONTHLY COLLECTIONS
                               -------------------

V. INTEREST COLLECTIONS
- -----------------------
   (A) Total Interest Collections  (III(C)+E(i)-F(i)+F(ii)+G)                                                 $2,480,057.86

VI. PRINCIPAL COLLECTIONS
- -------------------------
   (A) Principal Payments Received  (III(A((i)+(ii))+(D(i)+(ii)))                                            $28,927,997.53
   (B) Liquidation Proceeds  (IV(F(i)))                                                                          323,062.93
   (C) Repurchased Loan Proceeds Related to Principal  (III(A(iii)+D(iii)))                                            0.00
   (D) Recoveries from Prior Month Charge Offs (IV(F(ii)))                                                       201,753.27
                                                                                                          -----------------
   (E) Total Principal Collections   (A+B+C+D)                                                              $29,452,813.73

VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS  (V(A)+VI(E))                                                  $31,932,871.59
- -----------------------------------------------------------

VIII. YIELD SUPPLEMENT DEPOSIT                                                                                  $305,696.98
- ------------------------------

IX. TOTAL AVAILABLE AMOUNT (VII+VIII)                                                                        $32,238,568.57
- -------------------------------------




                                                                          page 3


                       AMERICAN HONDA FINANCE CORPORATION
      MONTHLY SERVICER REPORT -- Honda Auto Receivables 2005-1 Owner Trust
                 Collection Period: 10/1/2006 through 10/31/2006
                                                  Determination Date: 11/16/2006
                                                        Payment Date: 11/21/2006

                              MONTHLY DISTRIBUTIONS
                              ---------------------



X. FEE DISTRIBUTIONS
- --------------------
   (A) Servicing Fee
       (i)   Servicing Fee Due  (I(H)/12)(II(B))+(II(H)(i))                                                     $512,495.07
       (ii)  Servicing Fee Paid ($ 0.38 per $1,000 original principal amount)                                    512,495.07
                                                                                                          -----------------
       (iii) Servicing Fee Shortfall                                                                                  $0.00
   (B) Reserve Account Investment Income (IV(B))                                                                 $45,575.72
   (C) Yield Supplement Account Investment Income  (IV(C))                                                            $0.00
   (D) Trust Fees Expense (IV(D))                                                                                     $0.00

XI. DISTRIBUTIONS TO NOTEHOLDERS
- --------------------------------
   (A) Interest
       (i) Class A-1 Notes
           (a) Class A-1 Notes Interest Due                                                                           $0.00
           (b) Class A-1 Notes Interest Paid                                                                           0.00
                                                                                                          -----------------
           (c) Class A-1 Notes Interest Shortfall                                                                     $0.00
       (ii) Class A-2 Notes
           (a) Class A-2 Notes Interest Due                                                                           $0.00
           (b) Class A-2 Notes Interest Paid                                                                           0.00
                                                                                                          -----------------
           (c) Class A-2 Notes Interest Shortfall                                                                     $0.00
       (iii) Class A-3 Notes
           (a) Class A-3 Notes Interest Due                                                                     $852,955.35
           (b) Class A-3 Notes Interest Paid                                                                     852,955.35
                                                                                                          -----------------
           (c) Class A-3 Notes Interest Shortfall                                                                     $0.00
       (iv) Class A-4 Notes
           (a) Class A-4 Notes Interest Due                                                                     $951,498.33
           (b) Class A-4 Notes Interest Paid                                                                     951,498.33
                                                                                                          -----------------
           (c) Class A-4 Notes Interest Shortfall                                                                     $0.00
       (v) Total Note Interest
           (a) Total Note Interest Due                                                                        $1,804,453.68
           (b) Total Note Interest Paid                                                                        1,804,453.68
                                                                                                          -----------------
           (c) Total Note Interest Shortfall                                                                          $0.00
           (d) Reserve Account Withdrawal for Note Interest                                                           $0.00
Amount available for distributions after Fees & Interest (IX-(X(A)(ii)-(D))-XI(A)(v)(b))                     $29,921,619.82
   (B) Principal
       (i) Noteholders' Principal Distribution Amounts                                                       $28,445,519.24
       (ii) Class A-1 Notes Principal
           (a) Class A-1 Notes Principal Due                                                                          $0.00
           (b) Class A-1 Notes Principal Paid                                                                          0.00
                                                                                                          -----------------
           (c) Class A-1 Notes Principal Shortfall                                                                    $0.00
           (d) Reserve Account Withdrawal                                                                             $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 Account Withdrawal                                                                             $0.00
       (iv) Class A-3 Notes Principal
           (a) Class A-3 Notes Principal Due                                                                 $28,445,519.24
           (b) Class A-3 Notes Principal Paid                                                                 28,445,519.24
                                                                                                          -----------------
           (c) Class A-3 Notes Principal Shortfall                                                                    $0.00
           (d) Reserve Account Withdrawal                                                                             $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 Account Withdrawal                                                                             $0.00
       (vi) Total Notes Principal
           (a) Total Notes Principal Due                                                                      28,445,519.24
           (b) Total Notes Principal Paid                                                                     28,445,519.24
                                                                                                          -----------------
           (c) Total Notes Principal Shortfall                                                                        $0.00
           (d) Reserve Account Withdrawal                                                                             $0.00

XII. RESERVE FUND DEPOSIT
- -------------------------
   Amount available for deposit into reserve account                                                          $1,476,100.58
   Amount deposited into reserve account                                                                               0.00
   Excess Amount Released from Reserve Account                                                                         0.00
                                                                                                          -----------------
   Excess funds available to Certificateholders                                                                1,476,100.58
                                                                                                          -----------------




                                                                          page 4


                       AMERICAN HONDA FINANCE CORPORATION
      MONTHLY SERVICER REPORT -- Honda Auto Receivables 2005-1 Owner Trust
                 Collection Period: 10/1/2006 through 10/31/2006
                                                  Determination Date: 11/16/2006
                                                        Payment Date: 11/21/2006



XIII. DISTRIBUTIONS TO CERTIFICATEHOLDERS
- -----------------------------------------
   (A) Interest
       (i)   Certificate Monthly Interest Due                                                                    $83,204.66
       (ii)  Certificate Interest Shortfall Beginning Balance                                                         $0.00
                                                                                                          -----------------
       (iii) Total Certificate Interest Due                                                                      $83,204.66
       (iv)  Certificate Interest Paid                                                                            83,204.66
                                                                                                          -----------------
       (v)   Certificate Interest Shortfall Ending Balance                                                            $0.00
   (B) Principal
       (i)   Certificate Monthly Principal Due                                                                $1,225,409.35
       (ii)  Certificate Principal Shortfall Beginning Balance                                                        $0.00
                                                                                                          -----------------
       (iii) Total Certificate Principal Due                                                                  $1,225,409.35
       (iv)  Certificate Principal Paid                                                                        1,225,409.35
                                                                                                          -----------------
       (v)   Certificate Principal Shortfall Ending Balance                                                           $0.00
   (C) Release to Seller                                                                                        $167,486.57

                              DISTRIBUTIONS SUMMARY
                              ---------------------

   (A) Total Collections                                                                                     $32,238,568.57
   (B) Service Fee                                                                                              $512,495.07
   (C) Trustee Fees                                                                                                    0.00
   (D) Class A1 Amount                                                                                                $0.00
   (E) Class A2 Amount                                                                                                $0.00
   (F) Class A3 Amount                                                                                       $29,298,474.59
   (G) Class A4 Amount                                                                                          $951,498.33
   (H) Amount Deposited into Reserve Account                                                                          $0.00
   (I) Certificateholders                                                                                     $1,308,614.01
   (J) Release to seller                                                                                        $167,486.57
   (K) Total amount distributed                                                                              $32,238,568.57
   (L) Amount of Draw from Reserve Account                                                                             0.00
   (M) Excess Amount Released from Reserve Account                                                                     0.00

                         DISTRIBUTION TO SECURITYHOLDERS
                         -------------------------------

   Note Interest Distribution Amount                                                                          $1,804,453.68
       Class A-1 Notes:   ($ 0.00 per $1,000 original principal amount)
       Class A-2 Notes:   ($ 0.00 per $1,000 original principal amount)
       Class A-3 Notes:   ($ 2.06 per $1,000 original principal amount)
       Class A-4 Notes:   ($ 3.18 per $1,000 original principal amount)

   Note Principal Distribution Amount                                                                         28,445,519.24
       Class A-1 Notes:   ($ 0.00 per $1,000 original principal amount)
       Class A-2 Notes:   ($ 0.00 per $1,000 original principal amount)
       Class A-3 Notes:   ($ 68.54 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                                                                       83,204.66
                          ($ 1.89 per $1,000 original principal amount)

   Certificate Principal Distribution Amount                                                                   1,225,409.35
                          ($ 27.86 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)




                                                                          page 5


                       AMERICAN HONDA FINANCE CORPORATION
      MONTHLY SERVICER REPORT -- Honda Auto Receivables 2005-1 Owner Trust
                 Collection Period: 10/1/2006 through 10/31/2006
                                                  Determination Date: 11/16/2006
                                                        Payment Date: 11/21/2006


                         PORTFOLIO AND SECURITY SUMMARY
                         ------------------------------

                                                                                    Beginning                    End
XIV. POOL BALANCES AND PORTFOLIO INFORMATION                                        of Period                 of Period
- --------------------------------------------                                    ----------------          -----------------
   (A) Balances and Principal Factors
       (i)    Aggregate Balance of Notes                                         $588,856,494.49            $560,410,975.25
       (ii)   Note Pool Factor                                                         0.4498865                  0.4281542
       (iii)  Class A-1 Notes Balance                                                       0.00                       0.00
       (iv)   Class A-1 Notes Pool Factor                                              0.0000000                  0.0000000
       (v)    Class A-2 Notes Balance                                                       0.00                       0.00
       (vi)   Class A-2 Notes Pool Factor                                              0.0000000                  0.0000000
       (vii)  Class A-3 Notes Balance                                             289,956,494.49             261,510,975.25
       (viii) Class A-3 Notes Pool Factor                                              0.6986903                  0.6301469
       (ix)   Class A-4 Notes Balance                                             298,900,000.00             298,900,000.00
       (x)    Class A-4 Notes Pool Factor                                              1.0000000                  1.0000000
       (xi)   Certificates Balance                                                 26,137,588.83              24,912,179.48
       (xii)  Certificates Pool Factor                                                 0.5941669                  0.5663106
       (xiii) Total Principal Balance of Notes and Certificates                   614,994,083.32             585,323,154.73
   (B) Portfolio Information
       (i)    Weighted Average Coupon (WAC)                                                4.90%                      4.90%
       (ii)   Weighted Average Remaining Maturity (WAM)                                    32.31 months               31.35 months
       (iii)  Remaining Number of Receivables                                             60,371                     59,290
       (iv)   Portfolio Receivable Balance                                       $614,994,083.32            $585,323,154.73
   (C) Outstanding Advance Amount                                                    $342,600.11                $307,008.48
   (D) Outstanding Payahead Balance                                                        $0.00                      $0.00

                               SUMMARY OF ACCOUNTS
                               -------------------

XV. RECONCILIATION OF RESERVE ACCOUNT
- -------------------------------------
   (A) Beginning Reserve Account Balance                                                                     $10,146,677.35
   (B) Draws                                                                                                           0.00
       (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
   (D) Reserve Account Balance Prior to Release                                                               10,146,677.35
   (E) Reserve Account Required Amount                                                                        10,146,677.35
   (F) Final Reserve Account Required Amount                                                                  10,146,677.35
   (G) Excess Reserve Account Amount                                                                                   0.00
   (H) Release of Reserve Account Balance to Seller                                                                    0.00
   (I) Ending Reserve Account Balance                                                                         10,146,677.35

XVI. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT
   (A) Beginning Yield Supplement Account Balance                                                              3,743,274.14
   (B) Investment Earnings                                                                                        17,749.51
   (C) Investment Earnings Withdraw                                                                                    0.00
   (D) Additional Yield Supplement Amounts                                                                             0.00
   (E) Yield Supplement Deposit Amount                                                                           305,696.98
   (F) Release of Yield Deposit Account Balance to Seller                                                              0.00
                                                                                                          -----------------
   (G) Ending Yield Supplement Account Balance                                                                 3,455,326.67

XVII. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
- -----------------------------------------------
   (A) Liquidated Contracts
       (i)   Liquidation Proceeds                                                                               $323,062.93
       (ii)  Recoveries on Previously Liquidated Contracts                                                       201,753.27
   (B) Aggregate Net Losses for Collection Period                                                                218,114.86
   (C) Net Loss Rate for Collection Period (annualized)                                                               0.44%
   (D) Cumulative Net Losses for all Periods                                                                   6,224,270.04
   (E) Delinquent Receivables                                   # Units           Dollar Amount
                                                             -------------   ----------------------
       (i)   30-59 Days Delinquent                           1,786   3.01%   $19,210,685.56   3.28%
       (ii)  60-89 Days Delinquent                             380   0.64%    $4,271,919.09   0.73%
       (iii) 90 Days or More Delinquent                         72   0.12%      $881,298.57   0.15%

XVIII. REPOSSESSION ACTIVITY                                    # Units           Dollar Amount
- ----------------------------                                 -------------   ----------------------
   (A) Vehicles Repossessed During Collection Period            28   0.05%      $335,379.77   0.06%
   (B) Total Repossessed Vehicles in Inventory                  47   0.08%      $603,563.98   0.10%




                                                                          page 6


                       AMERICAN HONDA FINANCE CORPORATION
      MONTHLY SERVICER REPORT -- Honda Auto Receivables 2005-1 Owner Trust
                 Collection Period: 10/1/2006 through 10/31/2006
                                                  Determination Date: 11/16/2006
                                                        Payment Date: 11/21/2006


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                                                                         0.53%
       (ii) Preceding Collection Period                                                                               0.42%
       (iii) Current Collection Period                                                                                0.44%
       (iv) Three Month Average (Avg(i,ii,iii))                                                                       0.46%
   (B) Ratio of Balance of Contracts Delinquent 61 Days or More to the Outstanding Balance of Receivables.
       (i) Second Preceding Collection Period                                                                         1.02%
       (ii) Preceding Collection Period                                                                               0.86%
       (iii) Current Collection Period                                                                                0.84%
       (iv) Three Month Average (Avg(i,ii,iii))                                                                       0.91%
   (C) Loss and Delinquency Trigger Indicator                                                          Trigger was not hit.


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


     /s/ Paul C. Honda
     ------------------------------------------
     Paul C. Honda
     Assistant Vice President