Amid the announcement of its third profit warning of the year, Honda has confirmed that it has canceled plans for the launch of a successor to the NSX supercar. The new V10-powered model was expected to arrive in the United States next year as an Acura, but sadly all development work on the car has come to an end.

Honda CEO Takeo Fukui confirmed the plan in his end of year speech, saying that all development of the car would cease. Fukui also revealed that plans to introduce the Acura brand to Japan in 2010 have all been canned, reports Automotive News.

The news comes less than two weeks after Honda announced that it planned to pull out of next year’s Formula One season, citing financial constraints as the main reason.

Honda also announced today that it is lowering its annual operating profit forecast by 67% - its third profit warning of the year. The carmaker now expects its operating profit for the business year to March 31 to be ¥180 billion ($2 billion) - down 81% from last year.

Instead, Honda will focus on developing more fuel-efficient hybrid and diesel models, especially in the compact car segments. Plans for a minicar positioned below the Fit (Jazz) are still on track, as are plans for the CR-Z hybrid sports car.

[source:MotorAuthority]

Other Honda Cars In www Auto Com:
+    Mugen Release Tuning Kits for New 2009 Honda Odyssey JDM
+    2009 JDM Honda Odyssey teased ahead of debut
+    Track Drive: 2008 Honda Civic Mugen Si
+    2009 Honda Legend reveals de-shielded Acura RL
+    Pics aplenty: 2009 Honda Civic Hybrid
+    Officially Official: Honda unveils updated 2009 Honda Civic
+    First Drive: 2009 Honda Fit and 2009 Honda Fit Sport
+    Honda’s Prius-killing hybrid gets a date: April 2009
+    Skunk2 project EP3 Honda CivicRR up for sale
+    Spycam: Honda’s all-new global hybrid and refreshed 2009 Civic Hybrid
+    Rendered Speculation: 2010 Honda S2000 replacement
+    Honda’s next Civic hybrid could revive Insight name
+    Long Term Arrival: 2008 Honda Accord EX-L
+   The Frugal Five: Compact Crossover Comparison
+   Honda Legend facelift leaks out
+   First Drive: 2009 Honda Pilot
+   2009 Honda Accord Euro spec in 2008 Geneva Motor Show
+   2008 Geneva Auto Show Preview: Honda unmasks the Euro Accord
+   First Drive: AutoblogGreen drives the 2009 Honda FCX Clarity
+   LA Auto Show 2007: Honda unwraps the 2009 FCX Clarity!
+   Honda S2000 CR campaigning in 25 Hours of Thunderhill
+   Honda S2000 Type S at 2007 Tokyo Motor Show
+   Honda confirms production FCX and car based on CR-Z Concept
+   2007 Tokyo Motor Show: 2008 Honda Fit gets Civic-minded makeover
+   LA Motor Show 2007: Honda Civic GX quick test drive
+   Tokyo Motor Show 2007 Preview:Honda CR-X is back
+   Tokyo Auto Show 2007 Preview: Honda CR-Z Concept Car
+   Tokyo Motor Show 2007 Preview: Honda DN-01 motorcycle features automatic transmission
+   A brand new version of Honda’s small car is set to hit the road
+   Tokyo Motor Show-2009 Honda Fit: Now With More Embargo-Breaking Interior Shots! - Jalopnik
+   Bigger, better Jazz ready to call the tune

More Excellent Articles like

Honda cancels development of V10-powered NSX successor

Pay Attention to Auto Fans

Recent Auto Articles

• One-off SR-71 Mustang sells for $375,000 at EAA AirVenture
• First Test Experience: 2011 Nissan Juke SV
• Peugeot 3008 HYbrid4 announced - world’s first diesel full hybrid vehicle
• Nissan Xterra not long for this world
• 2011 Ford Mondeo facelift unveiled in Moscow
• 2011 Nissan Murano unveiled with mild refresh, new SV trim
• Mercedes-Benz unveils 2011 S63 AMG with twin-turbo 5.5L V8
• Rolls Royce Phantom Coupe Shaheen and Baynunah bespoke editions
• Officially Official: Updated 2011 Jeep Wrangler now in production
• Mercedes SL 65 AMG Black Series by MKB packs over 1000hp

This entry was posted on Thursday, December 18th, 2008 at 8:12 am and is filed under Super Cars, Honda. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.