Wednesday 17th December 2008

Honda Cancels New NSX

Hard times for Honda as it bins its new supercar

---

New NSX was expected in 2010

Honda CEO Takeo Fukui said today that his company has been forced to cancel the next-generation NSX because of the global economic conditions. He made the announcement during a speech outlining the carmaker’s revised economic forecast.

The Nikkei news service also reported that the firm would not be bringing the Acura brand to Japan. ‘The situation is worsening by the day, and there is no prospect for recovery, is our understanding,’ Fukui told reporters.

The NSX was expected to be a V10 sports car and it is reported that the car was almost production-ready. The project had encountered a number of problems but these had been overcome and it was in the late stages of development.

The Honda boss had previously told Autocar at the end of last year that the new NSX is ‘necessary for Honda’. The company reportedly indicated its operating profits will be 180 billion yen ($2 billion), down 67% from the forecasted 550 billion yen.

Honda was recently forced to pull out of F1 to save money. The company has spent an estimated £300m on F1 each year and has decided it can no longer afford to be involved in the sport.

[funnyimpreza]

The NSX is awsome. I was lucky enough to drive a 1999 NSX in Swindow when I was 20 and it was amazing. It felt sluggesh till Mr Vtec kicked in.

[onlynik]

That is quite understandable, though it will be back once the economy returns.

["Torquemada"]

funnyimpreza said:

I was lucky enough to drive a 1999 NSX in Swindow when I was 20 and it was amazing. It felt sluggesh till Mr Vtec kicked in.

The first rule of Swindow...

[jon-]

Please please sell that lovely high revving NA V10 as a box engine. It would be epic.

[IforB]

‘The situation is worsening by the day, and there is no prospect for recovery, is our understanding,’ Fukui told reporters.

What sort of nonsense is this? So according to Honda, we're never going to recover from the current financial malaise........?
If that's what they think, then why don't they just shut up shop?

[bridgdav]

Funny I thought that yesterday when I posted a topic about whats next to go in 2009.

Honda, Suzuki, Seat withdrawing from motorsport etc etc..
I couldn't find anythind about the NSX when I searched.

Its a shame, but their development program was stretching to a couple of years for this, and delays were hampering its launch. Detroit / Geneva / Never.

[10 Pence Short]

That's a massive shame. The prototype running around the Nurburgring looked and sounded absolutely awsome.

[SleeperCell]

So are Honda actually in dire trouble or just being overly cautious?

[DSM2]

IforB said:

‘The situation is worsening by the day, and there is no prospect for recovery, is our understanding,’ Fukui told reporters.

What sort of nonsense is this? So according to Honda, we're never going to recover from the current financial malaise........?
If that's what they think, then why don't they just shut up shop?

I guess he needs to justify his actions.

[Alex_L]

is it me or are honda using the economic crisis as an excuse for the project failure that wasn't doing very well? I think they'll still be working on it, just behind the curtain, and release it when they are ready to do so....without any pressures

[R5GTTGaz]

SleeperCell said:

So are Honda actually in dire trouble or just being overly cautious?

Profits are predicted to fall to £1 Billion.

[bridgdav]

Honda also said:...

Honda CEO Takeo Fukui announced the move in his end of year speech, saying that all development of the car would be cancelled. The company has also withdrawn its plan to introduce the Acura brand to Japan in 2010.


Fukui had decided to concentrate on Honda's environmental credentials. He believes that hybrid drivetrains offer "the most realistic path for CO2 reduction at this moment". This means that Honda will focus its energy on developing hybrid technologies and "achieving mass market penetration as soon as possible".

[rhinochopig]

Great name for the CEO.

"Hello is that Honda, who am I speaking to please?"
"Fukui"
"Well fk you to"
[sound of phone being slammed down]

That'll be why they don't sell many cars then.

[eddie1980]

Dam, I was hoping this would lower the price of the current NSX still more...

There hybrid on TG did look impressive though, I can see why given the global climate they want to be first to market with this.

[toohuge]

Alex_L said:

is it me or are honda using the economic crisis as an excuse for the project failure that wasn't doing very well? I think they'll still be working on it, just behind the curtain, and release it when they are ready to do so....without any pressures

Without drawing massive criticism, you are not the only one to think like that.

[bridgdav]

rhinochopig said:

Great name for the CEO.

"Hello is that Honda, who am I speaking to please?"
"Fukui"
"Well fk you to"
[sound of phone being slammed down]

That'll be why they don't sell many cars then.

Even better I think its pronounced..

FUK WEE

[Xaero]

Surely developing hybrid technology (a new technology) will be much more expensive then a big V10 petrol engine?

I think Honda may be making excuses and being very conservative, but if they get through the financial down turn relatively ok then I guess they are making the right moves now.

[vz-r_dave]

funnyimpreza said:

The NSX is awsome. I was lucky enough to drive a 1999 NSX in Swindow when I was 20 and it was amazing. It felt sluggesh till Mr Vtec kicked in.

Yeah ofcourse it did and this came from someone who owns a what, hmmm did you say 328 pfff.

Get off the bandwagon even below vtec the NSX is a quick car.

[nickpan]

DSM2 said:

IforB said:

‘The situation is worsening by the day, and there is no prospect for recovery, is our understanding,’ Fukui told reporters.

What sort of nonsense is this? So according to Honda, we're never going to recover from the current financial malaise........?
If that's what they think, then why don't they just shut up shop?

I guess he needs to justify his actions.

I think Fukui was suggesting that international car sales would not return to their previous levels due to a tightening of available credit in the long-term. Car dealers will actually have to perform "credit-checks" now before leasing cars to 22 year olds on 20k/year with no credit history and little financial stability.

[10 Pence Short]

toohuge said:

Alex_L said:

is it me or are honda using the economic crisis as an excuse for the project failure that wasn't doing very well? I think they'll still be working on it, just behind the curtain, and release it when they are ready to do so....without any pressures

Without drawing massive criticism, you are not the only one to think like that.

As I've said on other threads regarding Honda's withdrawal from F1; Honda are an independent company and are determined to stay that way. Japan as a whole is in dire straits and Honda, like many other manufacturers, are having to cut back. It would look bad if they were continuing to spend on loss making 'halo' projects whilst giving workers their P45s.