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Honda : Honda Stops All Their Formula One Activities... Official Announcement

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Honda Stops All Their Formula One Activities... Official Announcement

Tags: HONDA, FORMULA ONE, JOHN SURTEES, AYRTON SENNA, JENSON BUTTON
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Honda Stops All Their Formula One Activities... Official Announcement
In a not so surprising announcement made only a few minutes ago, Honda announced that they will no longer participate to any Formula One activities, making 2008 their latest season.

Starting in 1964 with the passion of its fonder, Honda has always been close to the Formula One, from John Surtees who won the first Grand Prix (1967 in Italy), the amazing Ayrton Senna, and recently Jenson Button. This announcement closes a long relationship between the manufacturer and one of the ultimate racing events.

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 optimize 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.

In its third era of Formula One activities, Honda has been participating in Formula One races from the 2000 season, initially with BAR, by adopting a new format of jointly developing racing machines. Subsequently, in a move to meet the changing environment surrounding Formula One, we switched to running a 100% Honda-owned team commencing with the 2006 season.

Surmounting many challenges, the Honda Team achieved a Grand Prix victory in 2006, enabling Honda to receive overwhelming support from Honda fans around the world that were looking forward to greater success. It, therefore, has been an extremely difficult decision for us to come to this conclusion without having been able to fully meet the expectations of our fans.

By making the best of what we have learned during these times of economic turmoil, coupled with the spirit of challenge gained through active participation in racing, we intend to continue with our commitment in meeting new challenges.

Finally, we would like to take this opportunity to sincerely thank our fans and all those who have supported Honda's Formula One efforts, including everyone in the world of Formula One.

Thank you very much.

Takeo Fukui
President and CEO
Honda Motor Co., Ltd.

Posted on 05/12/08 By G-A.G

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Posted on Sat Dec 06, 07:18 by HondaFan
Home Page: http://www.jbcarpages.com/honda/
This is a real shame. Now with a new car under Ross Brawn's supervision, I'd hoped they'd finally be able to mix with the front runners. Hopefully, no more companies will follow this move, but I'm inclined to think that Toyota might take this as a reason to leave F1, as well. My feeling has always been that they were there only because of Honda anyway.


 
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Posted on Sat Dec 06, 07:31 by nihauh, artist, Sydney, Australia
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If Honda were to still pursue some form of high-end racing it'll be really good to maybe join the LeMans series with a V-TEC powered V-10 hybrid-diesel to promote their new Insight car... just a positive idea here...


 
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Posted on Sat Dec 06, 07:46 by GAG, Tokyo Japan
Home Page: http://www.nihoncar.com
Well good Idea maybe but look even Audi drop out of the Le Mans 2009...


 
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Posted on Sun Dec 07, 04:17 by madbalee, _, Budapest, Hungary
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I can't write anything else


 
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Posted on Tue Dec 09, 01:06 by nihauh, artist, Sydney, Australia
Home Page:
Not entirely, believe it was only the American LeMans Series that Audi will not be competing in but will still race the 24 hours.


 
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Posted on Thu Dec 11, 02:55 by rashed, student, ankara
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HONDA will continue motorsport activities EXCEPT F1 . that is not a complete withdrawal after all.


 
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Posted on Sat Dec 27, 07:16 by ed
Home Page: http://www.dpccars.com/
This is a very sad news.


 
 
 
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