We couldn't even afford Super Aguri when they went under. I doubt we can get enough people together for a group buy of Honda.

Actually, I wish this news would've come out about a week ago. This would've been a great gift from my Secret Santa...

 

i heard that bmw will go out too, i hope not !

 

Where did you hear that about BMW, that would be crazy...

 

I highly doubt that. They're too damn competitive to pull out now.

 

Damn.....too bad we can't do a TeamSpeed group buy for Honda lol

'We can make Honda better than they were. Better...stronger...faster'

 

to write off honda because of their latest efforts is foolhardy. honda has powered six constructor champions, they are a legitimate force in F1. maybe you are confusing honda and toyota.

ps. '06 wasn't a bad year for the current outfit either...

 

Perhaps I was a bit harsh. They've been off the pace these past two season especially though.

 

Wow! Come to think of it, Honda has nothing to lose. They are losing millions a year and they are not competitive AT ALL.

 

The following is the full statement from Honda President and CEO Takeo Fukui regarding the firm’s decision to pull out of Formula One...

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 percent 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.

 

bmw squashed those rumors...

Formula One news: BMW confirms F1 commitment - GPUpdate.net Formula One