TOV: New Honda president says FR sedans (and V8s) are out

Who would have figured that July 20th would have held more than a single newsworthy story, but it's not even lunch time on the west coast and we're already up to our third item of the day.
On a normal Monday I probably would have come across this sooner but I'm actually hurtling down the freeway somewhere outside of Lexington, KY as I type this.

This is apparently all over the blogs already, but in case you missed it, Automotive News ran a story earlier today with the following headline: New Honda chief: We don't need rwd sedans.

The story is available here, but it may require a login and/or subscription.

Basically the gist of it is that Takanobu Ito claims that Honda has suspended its RWD development program and will shift its focus towards developing hybrid powertrains for larger vehicles. Ito-san is quoted as saying "It would be meaningless to emulate what other companies have been doing for more than five decades." , and that they intend to pioneer in new areas.

Temple of Vtec Opinion
As Acura is currently in the midst of fortifying their brand image in an effort to pull level with "Tier 1" marques, I can't imagine there possibly being a worse time for the president of Honda to make such a declaration. Just when it seems like things were looking up for Acura (with word of a proper flagship RL, unique FR platforms, and true "Tier 1" powertrains in the works), the news has been steadily getting worse for the past six months or so. The cumulative effect of this series of blows is taking its toll on Acura's brand credibility amongst enthusiasts, which arguably drive a brand's overall image. Will the effect ultimately prove fatal for Acura? Only time will tell.

Source;
http://www.vtec.net/news/news-item?news_item_id=842482