Honda has confirmed that it is to pull out of Formula One with immediate effect, and that it is placing its team in Brackley up for sale.
The Japanese giant, which endured a disastrous 2008 season as it concentrated on designing and developing a 2009 challenger built to the sport’s new regulations, has been forced to rethink its commitment to F1 in the wake of reduced production at key car plants (including Swindon) and falling US sales.
In a prepared statement issued early this morning, Honda’s president and CEO Takeo Fukui said, “We, Honda Motor Co. Ltd., have come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season of participation.
“This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry, brought on by the sub-prime problem in the United States, the deepening credit crisis and the sudden contraction of the world economies.
“Honda must protect its core business activities and secure the long term as widespread uncertainties in the economies around the globe continue to mount. A recovery is expected to take some time.
“Under these circumstances, Honda has taken swift and flexible measures to counter this sudden and expansive weakening of the marketplace in all business areas. However, in recognition of the need to optimise the allocation of management resources, including investment regarding the future, we have decided to withdraw from Formula One participation.
We will enter into consultation with the associates of Honda Racing F1 Team and its engine supplier Honda Racing Development regarding the future of the two companies. This will include offering the team for sale.”
Honda has not issued an official time limit on the sale of its Brackley concern, which employs around 600 people. But sources indicate that if a buyer is not found by the end of December, the team will be closed down.
Given the current economic climate and the scale of development required to build a competitive car for the 2009 rules, finding an investor willing to bankroll such a large operation is likely to prove extremely difficult. There are already rumours that Bernie Ecclestone may step in to try and broker a deal that would keep Honda in the sport.
The decision is bad news for British driver Jenson Button; all of F1’s top teams have already finalised their driver plans for 2009, and most have settled line-ups for 2010 as well.
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Re: Honda's F1 future in doubt
Stress this early on a monday morning. Chill bro it aint worth it.
Re: Honda's F1 future in doubt
Hi Grettel, I thought we were close to a break through, I treid to place you and plumber in positions you place others......I started to see movement, plumber opened up just a little (superb!) but then you both reverted back.
I thought you and plumber had moved a little; but you had not; the thing you say you want, debate, respect etc, you just flip flop; all you really want to do is score points; to debate you need to open up, show some of yourself and without that you cannot debate; I do not know what you are so scared of; but to debate you need to overcome that.
This is why you end up back at the same points, you will not let yourself go any further and enjoy the journey; without opening up you are not going to get debate, not to the level you say you want and you stop yourself growing and developing; worst of all if are closed others become closed and then it restricts debate (you get no debate.....which is what oyu said you wanted); you just do not get it.......you probably think you do, but you do not.........after all this........yet you still do not get it......hence you have my pity.
Re: Honda's F1 future in doubt
Hi Grettel (steve steele) aka Chief Muppet and Hi Anorak Groupie (scummyplumber) aka the "Gimp"; I offered, but I see you have not got to a new level, you guys just could not raise your game: items:
a) Grettel wants to debate but does not read others responses
b) Gimp/Grettel attack another (Michael325) for contibuting yet Michael325 gives good posts yet it is Gimp/Grettel that hang around in forums posting non-sense (you both acused Michael325 of being sad).....he is not the sad one, you guys are; you to are the only ones I see causing trouble (posts by Michael325....look good and make sense, no malice..unlike you both)
c) Grettel wants to have me apologise yet he will not apologise to others; Grettel you want rule for you and another for everyone else?........its cuts both ways.
d) Gimp/Grettel you flip flop between views, Grettel and Gimp you move your points around to suit and try points score; horseandcart puts strong views forward (nothing wrong with that at all.....I think its good), I do not agree with all he says as for sure the vice versa, but his comments are not pointed (which is good.....becuase then it becomes about a healthy exchange of opinion) and he always (from what I have seen) listerns to others opinins and replies "to form a debate"......good on horseandcart.
e) Gimp/Grettel, you seek these things and talk of trouble caused elsewhere by others, yet you want second chances and/or you want progression; again not something you give to others.
Therefore, at worst you are bullies (simple as) and at best right now, you are narrow minded individuals obsessed with points scoring and devoting time to "having a laugh at anoraks" on your weekends and during the week; you are right now probably the two saddest people I have ever met........I honeslty do pity you.
Have a nice week Gimp and Cheif Muppet.......you are both full to the brim with contradiction, you use the same boring, boring tactics (nothing original), you say the same things and it shows you struggle holding debates (apparently what you crave); you just revert back abuse; I thought the Gimp upped his game a little, but then you faded.
So I give you your Christmas present......I give you both my pity......