Honda CEO Takeo Fukui announced the cancellation of the front-engined NSX in his year-end speech in Japan yesterday.
The car, designed in America and to be sold there under the Acura brand, was the long-awaited successor to the mid-engined four-wheel drive NSX supercar.
It was one of a raft of cutbacks and revised forecasts made in light of the global automotive industry downturn. “The situation is worsening day-by-day and showing no sign of recovery,” Fukui said.
Honda is also delaying its new Sakura R&D Centre and a new factory in Yorii, both in Japan, and will cut some executives’ pay by 10 percent. It has also abandoned plans to launch the Acura brand in Japan.
