
                                  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                                  JUNE 1819, 20052006

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

                    HONDA AUTO RECEIVABLES 2003-5 OWNER TRUST
               (EXACT NAME OF REGISTRANT SPECIFIED IN ITS CHARTER)

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


          DELAWARE                                       333-51204-05                               43-69050346910134
(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

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

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ITEM 8.01. OTHER EVENTS

On NovemberJune 1819, 20052006, 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 December 1, 2003 (the "Agreement"), between
American Honda Receivables Corp., as Seller, American Honda Finance Corporation,
as Servicer, and Honda Auto Receivables 2003-5 Owner Trust, a Delaware statutory
trust, as Issuer, Deutsche Bank Trust Company Delaware, as Owner Trustee (the
"Owner Trustee"), and The Bank of New York, as Indenture Trustee (the "Indenture
Trustee") were distributed to holders ("Noteholders") of notes representing
undividedissued fractional interests in by
Honda Auto Receivables 2003-5 Owner Trust. In
 accordance with the Agreement, the 
Servicer's Certificate, as defined in the
 Agreement, was furnished to The Bank
of New York, as Indenture Trustee (the "Indenture Trustee") for the benefit of the
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 (Cd). 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 2003-5 OWNER TRUST
                             
                                       BY: AMERICAN HONDA FINANCE CORPORATION, 
                                           AS SERVICER


                                                                    By: /s/ JohnPaul IC. WeisickleHonda
                                                                            -----------------------------------------------
                                 John                                           Paul IC. WeisickleHonda
Date: NovemberJune 1819, 2005          2006                        Assistant Vice President, Assistant 
                                             Secretary and Compliance Officer









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