Filed under: Motorsports, Honda


Rumors yesterday indicated that Honda would be dropping out of Formula 1 for the 2009 season if a buyer wasn't quickly found. Today, CEO Takeo Fukui has made Honda's exit official. As you would imagine, racing at the top rung of motorsports is expensive, and despite the acknowledgment of such from top F1 officials and the growing sentiment that it needs to get cheaper, that's not going to happen in 2009. With global automotive sales, and therefore profits, down by alarming percentages, Honda can no longer justify its F1 racing investments and believes that the money could be better spent elsewhere. It should be noted that Honda has only had a single Grand Prix victory way back in 2006, so its significant yearly multi-million dollar investment has never really paid off anyway. An official statement from Fukui, who thanks Honda's fans for their support, is pasted after the break.

[Source: Honda]Continue reading Officially Official: Honda exits F1 before 2009 season
Officially Official: Honda exits F1 before 2009 season originally appeared on Autoblog on Fri, 05 Dec 2008 11:30:00 EST. Please see our terms for use of feeds.


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