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In December 2007, American Honda CEO, Tetsuo Iwamura, confirmed a new supercar powered by a V10 engine would make its introduction to the market by 2010.[39] The new sports car would be based on the Acura ASCC (Advanced Sports Car Concept) introduced at the 2007 North American International Auto Show.[40] With Honda CEO Takeo Fukui challenging the developers to make the vehicle faster than its rivals,[41] prototypes of the vehicle were seen testing on the Nürburgring in June 2008.[42] On 17 December 2008, Fukui announced during a speech about Honda’s revised financial forecast that, due to poor economic conditions, all plans for a next-generation NSX had been cancelled.[43] In March 2010, the Acura NSX project changed name to Honda HSV-010 GT and was entered in the Japanese SuperGT Championship. The HSV-010 GT is powered by a 3.4-liter V8 sending somewhere in excess of 500 hp (373 kW) through the sequential manual gearbox from Ricardo.