Honda Summary of the 2008 Year-End CEO-Speech: Development of the NSX Successor is cancelled

By - summary of the 2008 Year-End Ce0-Speech was announced today by Honda, with major changes and cutbacks that will be implemented within the year 2009. Among this changes, investment in R&D is affected and the development of the NSX successor model equipped with V10 engine will be cancelled.

Honda is considering the global economical situation that has affected the automotive industry and will reassess the priorities of all investment and development projects.

Investment and further strengthening in advanced environmental technologies will take place as hybrid technologies is the most realistic path for CO2 reduction at this stage. Honda will also strengthen its manufacturing system to support sales of hybrid models.

Summary of 2008 Year-End CEO Speech

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