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Statement by Takeo Fukui, President and CEO, Honda Motor Co., Ltd.
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.
unreal... 
Audi has today announced that it will not contest the American Le Mans Series next season with its new R15 TDi.
The German manufacturer had already confirmed that it would not defend its Le Mans Series title in Europe in 2009, citing money saving as the reason.
With no full ALMS campaign either, the R15's only confirmed outings next year will be in the Sebring 12 Hours in March and the Le Mans 24 Hours in June.
Audi motorsport boss Wolfgang Ullrich praised the ALMS - which the marque had competed in for nine seasons - and the Champion team that ran the R8 and R10 in America.
"The decision to withdraw was a very difficult one," he said. "The extraordinary dedication and precision of Team Champion was the key to Audi's victories over the last few years in America.
"We achieved an unprecedented winning series together - since the 2000 season Audi has won the LMP1 title nine times in succession."
The recent announcements mean that Audi's motorsport involvement next season is, at the moment, restricted to the DTM, Sebring and Le Mans, and the customer programme with the new R8 GT3 car.
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Damn financial crisis 
