| Archive for EFCivicSedan.com 1987 to 1991 Honda Civic Sedan Owners Club |
| jkgonzalez3 |
Honda quits Formula 1don't know if this was posted before but here it is,Honda quits Formula One amid financial woe By Alastair Himmer Posted 2008/12/05 at 10:23 am EST TOKYO, Dec. 5, 2008 (Reuters) — Honda delivered a major blow to Formula One on Friday by withdrawing from the sport with immediate effect, citing the uncertainty created by the global downturn. Honda Motor Co. President and Chief Executive Officer Takeo Fukui looks down during a news conference in Tokyo December 5, 2008.REUTERS/Toru Hanai Amid slumping car sales triggered by the worldwide slide, Japan's number two carmaker said it was no longer willing to bankroll the Formula One team and its estimated annual budget of $500 million. Honda Motor Co <7267.T> Chief Executive Takeo Fukui told a news conference a return to the sport could take time, and that there were no plans to continue as an engine supplier. "This difficult decision was taken recently and was made in light of the quickly deteriorating operating environment facing the global auto industry," Fukui told reporters. "Honda must protect its core business activities and secure the long term as widespread uncertainties in the economics around the globe continue to mount. "We will enter into consultation with associates of Honda Racing F1 and its engine supplier Honda Racing Development regarding the future of the two companies. This will include offering the team for sale." Fukui, who told Reuters this year that he would "spend a trillion yen" if he could to make Honda a Formula One winner, said there would be no speedy return to the sport. "At this stage we have no plans to return to F1. We have no plans to supply engines to other teams," he said. "We do not want to be half in and half out of the sport." rest of article http://www.newsdaily.com/stories/tre4b42yu-us-motor-racing-honda/ |
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| ~Sp33~ |
I read this (not here though),
I always thought that Honda WAS F1. This will be interesting. |
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| EF Sedan Enthusiast |
My jaw dropped when I heard that. | ||
| Type-S EF |
x2 Who else supplys engines? sucks to be a team planning to buy one for the upcoming season. |
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