Last Auto News Blog: Banzai burned? Honda <span style="text-decoration:line-through"> reportedly kills</span> confirms NSX is DOA

Click above for hi-res gallery of the Acura Advanced Sports Car concept

Amidst a troubled global economy, Honda is actively scaling back its operations, and its performance programs are sadly bearing the brunt. After canceling its participation in Formula One and the AMA motorbike road racing series, the Japanese automaker has reportedly announced that it is nixing development of the next-generation NSX supercar.

The unfortunate news will undoubtedly come as a stunning disappointment for the loyal legions of Honda/Acura sportscar fans. The new NSX, which looked to be nearing the end of its development on the road to production, was slated to be the most powerful car ever made by Honda, driven by an anticipated 560-horsepower V10.

According to Autocar, the goal-line audible came from none other than Takeo Fukui, Honda's CEO, who dropped the bombshell as part of a end-of-year speech to the troops. The news also means that Honda is suspending plans to finally bring the Acura nameplate to Japan, and it also calls into doubt the fate of the V10 engine itself, as well as any long-rumored V8 powertrains.

Honda hasn't ruled out the possibility of picking up where it left off once business is back in order, but in the meantime the original NSX, which ceased production in 2005 after fifteen years on the market, will have to remain without an heir.

Update: Acura spokesman Mike Spencer has confirmed to Autoblog that the NSX has indeed been canceled. We'll now never know how good it might have been.

Gallery: Acura Advanced Sports Car Concept