Tokyo go, go for storming Lexus supercar

V10-engined LFA will be star of Japanese expo.

It's the news every supercar fan was desperate to hear: the Lexus LFA is going into production! Although Honda has canned plans for a new NSX, the wrap,s will be taken off the LFA at October’s Tokyo Motor Show.

The two-seater flagship will feature a 600bhp V10, giving 0-60mph in less than four seconds and a 200mph-plus top speed. Expect a light carbon fibre body with a pop-up wing, rear-wheel drive and an F1-style paddleshift box.

A replacement for the Celica will also be revealed at Tokyo. This rear-driven coupé is the result of a joint project by Toyota and Subaru, and features an Impreza platform and drivetrain. But the show could be short on launches from other makers. Ford, GM, Chrysler, Mercedes, Renault, Volkswagen and Lamborghini have all pulled out of the expo, blaming the economic downturn. This follows news that the British Motor Show has been cancelled for similar reasons.

Honda scraps plans to build NSX sports car

Honda Motor Co. cancelled plans to build a new Acura NSX sports car as the automaker grapples with the global economic slump.

President Takeo Fukui announced the NSX's demise today as one of several cost-saving cutbacks.

The NSX was expected to have a front-mounted, V-10 engine that made at least 500 hp. It would have been the successor to the first-generation NSX, which had a mid-mounted V-6. That NSX went out of production in late 2005 after 14 years.

Its successor was expected to debut as a 2010 model and was poised to be Acura's answer to the Audi R8 and Nissan GT-R.

The NSX was expected to be outfitted with advanced technologies, including the Super Handling All-Wheel Drive system. It was also likely to get aluminum and carbon-fiber parts to keep weight low.

The program appeared to be on track as late as this summer, when spy shooters caught what looked to be an NSX on Germany's famed Nürburgring circuit.

That car looked similar to the Advanced Sports Car concept unveiled at the Detroit auto show in 2007.

In addition to canceling the NSX, Honda is cutting sales and profit forecasts and executive pay while delaying plant openings. It also scrapped plans to launch the Acura brand in Japan in 2010.

Honda quits F1

Japanese sensationally drop out of Formula One

Honda has quit F1 due to deepening financial worries and a crashing car market. Honda has recently pulled back production at its Swindon plant, and the decision to leave F1 is apparently to protect the brand's core business activities.

Where this leaves Jenson Button remains to be seen, with Honda placing its team for sale rather than winding it down altogether. It sends a stark message out to followers of F1 though, who may now fear other manufacturers such as Renault doing the same.

This is the statement from Takeo Fukui, President and CEO of Honda Motor Co:

"We, Honda Motor Co., Ltd., have come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season of participation.

This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry, brought on by the sub-prime problem in the United States, the deepening credit crisis and the sudden contraction of the world economies.

Honda must protect its core business activities and secure the long term as widespread uncertainties in the economies around the globe continue to mount. A recovery is expected to take some time.

Under these circumstances, Honda has taken swift and flexible measures to counter this sudden and expansive weakening of the marketplace in all business areas. However, in recognition of the need to optimize the allocation of management resources, including investment regarding the future, we have decided to withdraw from Formula One participation. We will enter into consultation with the associates of Honda Racing F1 Team and its engine supplier Honda Racing Development regarding the future of the two companies. This will include offering the team for sale.

In its third era of Formula One activities, Honda has been participating in Formula One races from the 2000 season, initially with BAR, by adopting a new format of jointly developing racing machines. Subsequently, in a move to meet the changing environment surrounding Formula One, we switched to running a 100% Honda-owned team commencing with the 2006 season.

Surmounting many challenges, the Honda Team achieved a Grand Prix victory in 2006, enabling Honda to receive overwhelming support from Honda fans around the world that were looking forward to greater success. It, therefore, has been an extremely difficult decision for us to come to this conclusion without having been able to fully meet the expectations of our fans.

By making the best of what we have learned during these times of economic turmoil, coupled with the spirit of challenge gained through active participation in racing, we intend to continue with our commitment in meeting new challenges.

Finally, we would like to take this opportunity to sincerely thank our fans and all those who have supported Honda’s Formula One efforts, including everyone in the world of Formula One.

Thank you very much."