President Takeo Fukui announced the NSX's demise today as one of several cost-saving cutbacks.
The NSX was expected to have had a front-mounted, V10 engine and would have been the successor to the first-generation NSX (which had a mid-mounted V6). 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 Honda'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, but for now at least, the new NSX has been confined to the history books. A sad day for Honda fans indeed.