You've run into the same naming problem GM did with the Vauxhall/Opel Nova: "No Va" literally means some variant of "it doesn't go" in (at least) Italian, Spanish, and French.
As a native Spanish speaker, this sounds totally made up. Nova sounds like an astronomy word, like supernova.
“No va” to me means something like “it’s not happening” or “the plans have been cancelled”. But it’s pronounced very differently.
