Honda pulls out of F1

Honda pulls out of F1

Honda are to pull out of F1 participation for the 2009 season. Yesterday, Honda CEO Takeo Fukui made the exit official. As you would imagine, racing a Formula 1 team is extremely expensive, and despite the acknowledgment from top F1 officials and a growing understanding that it needs to get cheaper, that’s not going to happen in 2009.

With global automotive sales, and profits, down by alarming percentages, Honda can no longer justify its F1 racing investments and believes that the money could be better spent elsewhere. Honda has only had a single Grand Prix victory way back in 2006, so its massive yearly multi-million dollar investment has never really paid off. Honda is selling the team, cars and technology, there is no word yet on interested parties.

Honda are to pull out of F1 participation for the 2009 season. Yesterday, Honda CEO Takeo Fukui made the exit official. As you would imagine, racing a Formula 1 team is extremely expensive, and despite the acknowledgment from top F1 officials and a growing understanding that it needs to get cheaper, that’s not going to happen in 2009.

With global automotive sales, and profits, down by alarming percentages, Honda can no longer justify its F1 racing investments and believes that the money could be better spent elsewhere. Honda has only had a single Grand Prix victory way back in 2006, so its massive yearly multi-million dollar investment has never really paid off. Honda is selling the team, cars and technology, there is no word yet on interested parties.

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