12-05-2008, 10:58 AM
I was thoroughly stunned yesterday when I heard rumors that Honda was pulling the plug on F1 due to the global recession. Sure enough el presidente made an official announcement today:
The insane cost of F1 aside, one has to wonder if some of the happenings in F1 in the last few years influenced this decision. For one, F1 does have a race in North America any more and that is their largest market. Secondly and probably more importantly, the FIA was rumbling about going to a spec engine and surely such a move would be of no interest to Honda from a technical standpoint. It leads one to wonder what's the point?
Then there's the fact that HF1 has performed terribly these last two seasons. Then again, if they had won the title this year I guess they'd have good reason to leave too.
I feel really disappointed on one hand, but on the other hand I'd much rather see Honda drop out of F1 than see them forced to layoff people for the first time in their history or pull the plug on Moto GP. I just feel bad that this third era of Honda F1 history will go down as a failure.
With Honda closing up shop I have to think someone like Toyota or Renault can't be too far behind. Renault in particular has been on the bubble for awhile and they don't have nearly the cash reserves someone like Honda does. Not to mention the fact that France just lost their GP. Toyota has already sunk billions into F1 and at this point they won't look bad if they leave too. If one more team folds the grid will be below the minimum number of cars F1 is contractually bound to field. That could be a huge disaster for the sport.
Not that I would be that sad. Bernie Ecclestone and Max Mosely have done so much damage to the sport in recent years that I'd derive a little bit of pleasure from seeing them get hurt. But on the other hand it's a shame because Formula 1 could be so much better than it is right now.
Quote: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. ...
The insane cost of F1 aside, one has to wonder if some of the happenings in F1 in the last few years influenced this decision. For one, F1 does have a race in North America any more and that is their largest market. Secondly and probably more importantly, the FIA was rumbling about going to a spec engine and surely such a move would be of no interest to Honda from a technical standpoint. It leads one to wonder what's the point?
Then there's the fact that HF1 has performed terribly these last two seasons. Then again, if they had won the title this year I guess they'd have good reason to leave too.
I feel really disappointed on one hand, but on the other hand I'd much rather see Honda drop out of F1 than see them forced to layoff people for the first time in their history or pull the plug on Moto GP. I just feel bad that this third era of Honda F1 history will go down as a failure.
With Honda closing up shop I have to think someone like Toyota or Renault can't be too far behind. Renault in particular has been on the bubble for awhile and they don't have nearly the cash reserves someone like Honda does. Not to mention the fact that France just lost their GP. Toyota has already sunk billions into F1 and at this point they won't look bad if they leave too. If one more team folds the grid will be below the minimum number of cars F1 is contractually bound to field. That could be a huge disaster for the sport.
Not that I would be that sad. Bernie Ecclestone and Max Mosely have done so much damage to the sport in recent years that I'd derive a little bit of pleasure from seeing them get hurt. But on the other hand it's a shame because Formula 1 could be so much better than it is right now.
2018 Ducati Panigale V4
Past: 2018 Honda Civic Type-R, 2015 Yamaha R1, 2009 BMW M3, 2013 Aprilia RSV4R, 2006 Honda Ridgeline, 2006 Porsche Cayman S, 2012 Ducati 1199, 2009 Subaru WRX, 2008 CBR1000RR, 2009 Kawasaki ZX-6R, 2000 Toyota Tundra, 2005 Honda CBR600RR, 1996 Acura Integra GS-R, 1996 Acura Integra GS-R, 1997 Honda Civic EX
http://www.aclr8.com
Past: 2018 Honda Civic Type-R, 2015 Yamaha R1, 2009 BMW M3, 2013 Aprilia RSV4R, 2006 Honda Ridgeline, 2006 Porsche Cayman S, 2012 Ducati 1199, 2009 Subaru WRX, 2008 CBR1000RR, 2009 Kawasaki ZX-6R, 2000 Toyota Tundra, 2005 Honda CBR600RR, 1996 Acura Integra GS-R, 1996 Acura Integra GS-R, 1997 Honda Civic EX
http://www.aclr8.com
