Honda Cancels New NSX

Uh-oh! … and why do I get the feeling I'm going to be saying that a lot more? News breaks today that Honda has decided to ax the upcoming re-do of the much loved NSX, Honda's uber-car. During a speech outlining the carmaker's revised economic forecast, Honda CEO Takeo Fukui said that his company has been forced to cancel the upcoming NSX because of the global economic conditions. "The situation is worsening by the day, and there is no prospect for recovery, is our understanding," Fukui said to the assembled reporters. Read more after the jump. The old NSX was a very well received ride. Although not a complete technical marvel, it was very competent and as reliable as an Accord. Think of the older NSX as a Ferrari 308 that would start every time you turned the key. The upcoming/now-canceled NSX was to be V10 powered, still a two-seater, but in the more traditional front engine/rear drive set up. This config was not applauded my many (me included), who felt that Honda should have stuck to better, if sharper, engineering path of a mid-engine layout. Its development was even covered by Chris here at Automoblog. That said, the new NSX was very far along in its development; test mules were seen on a regular basis pounding around the 'Ring, and there were regular leaks onto the net about what latest hurdle had been cleared. In the land of "soon to be released" cars, this one was about at ready to roll as they come. So for Honda to pull the plug at this late a date is highly indicative of the concern running through their boardroom. Honda CEO Takeo Fukui also said at today's press conference that company profits were down 67% since this time last year. Honda, for all their willingness to push technical boundaries, especially on the track, is a pretty conservative company. The old NSX is a good example. A lot of people were disappointed when it had "only" a V6 under the lid. Honda had the engineering muscle back then to easily putting a V8 or for that matter a blown V8 under the hood … but like I said, Honda is a conservative outfit, so they went with the conservative option of a V6. So in times like we all face today, and that Honda faces (like a 67% drop), I would expect them to act conservatively. The news of the NSX getting pulled, coupled with their leaving F1 racing are confirmation of this. Still, pulling the upcoming NSX at this late a date is still very surprising. Source: PistonHeads