Honda Kills NSX as Net Income Falls 62%
Autocar [UK] reports that Honda CEO Takeo Fukui slipped this little nugget into his end of year speech: the new NSX is toast. While the fact that Honda has also deep-sixed their plans to introduce the Acura brand to Japan in 2010 ( reported by Bertel this morning), the death of the NSX will likely catch the eye of the enthusiast press. It’s something of a climb-down for the HoMoCo CEO, who told Autocar last year that “The new supercar is necessary for Honda.” Of course, that’s so last year, what with Marketwatch reporting that Honda cash flow isn’t. More specifically, Bloomberg tells us “Sales are forecast to drop 13% to 10.4 trillion yen, down from the previous estimate of a 3% drop to 11.6 trillion yen. Operating profit will likely drop 81% to 180 billion yen, worse than the 42% decline to 550 billion yen that had been expected.” In other words, this is Honda’s second revised fiscal outlook in two months. In case you missed that, “The situation is worsening by the day and shows no sign of recovery,” Fukui pronounced at a press conference in Tokyo Wednesday. And this is a business in which we want Uncle Sam to invest?