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Honda CEO Says Pulling Out Of Formula 1 Was Necessary

Agent009 submitted on 10/23/2009 Official Bell & Ross Timestamp: 3:32:27 PM

12 user comments | Category: Misc News | Source: | SOURCE: www.autoweek.com

Honda president and CEO Takanobu Ito told a group of reporters on Thursday night at the company's Tokyo headquarters that the decision to quit Formula One racing last year was absolutely necessary for the company's survival.



And even after watching Honda's former team, now named Brawn GP, win both the drivers' and constructors' championships this season, Ito has no misgivings about pulling out of the sport.



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Honda CEO Says Pulling Out Of Formula 1 Was Necessary

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Agent009

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User Comments

dlin

I'd rather see money spent on next NSX than freaking F1 for what? Winning F1 doesn't mean any better car, Renault for example.

— dlin (View Profile)

Posted on 10/23/2009 4:02:41 PM | reply to this comment | Votes: 6   

MSP6

That's one really narrow-minded point of view

— MSP6 (View Profile)

Posted on 10/23/2009 4:19:30 PM | | Votes: -4   

david999


No NSX, V8s or anything interesting for a long time to come.

— david999 (View Profile)

Posted on 10/23/2009 4:56:25 PM | reply to this comment | Votes: 0   

thstone

Honda dropped F1 because of two reasons:

One - Using F1 as a marketing platform is just way too expensive.

Two - There is absolutely no tie between F1 technology and the technology in the cars that they sell.

— thstone (View Profile)

Posted on 10/23/2009 8:43:29 PM | reply to this comment | Votes: 4   

MSP6

They also decided not to be sponsored....
the "myearthdream" thing was an epic fail

— MSP6 (View Profile)

Posted on 10/23/2009 11:14:00 PM | | Votes: 0   

HyundaiSmoke

Honda is in some secret serious GM Trouble if it cant even afford an F! team.

Well hey, thats what you get where you only make cars catered to Japanese Bukkake lovers and American Hippies, without the neccessary global appeal to truly pay the bills and have a budget surplus.

Honda/Acura is not even a world class company anymore, and what a shame it isnt.

— HyundaiSmoke (View Profile)

Posted on 10/24/2009 5:08:38 AM | reply to this comment | Votes: -4   

Enforcement

god your an idiot

— Enforcement (View Profile)

Posted on 10/24/2009 10:23:21 PM | | Votes: 3   

SpicyMikey

Is he kidding? Getting out of F1 was necessary for their survival? Looking at their financials, they seem pretty healthy to me. Wall St. seems to agree. I'd rather have been holding HMC stock rather than Toyota over the last 3 years, that's for sure. I don't understand their strategy of crying poverty. Is it an excuse to keep car enthusiasts off their back? Pretend you're broke and everyone leaves you alone?

— SpicyMikey (View Profile)

Posted on 10/24/2009 10:51:46 AM | reply to this comment | Votes: 2   

MSP6

is SHE kidding. Hyundaismoke is a girl.
No she's not, she's just naturally dumb.

— MSP6 (View Profile)

Posted on 10/24/2009 11:42:15 AM | | Votes: 2   

HyundaiSmoke

Well and Fu-k all of you guys!!!!!!

Im not a chick, damm it. HOW MANY FU-KING TIMES DO I HAVE TO TELL YOU STUPID FU-KING PEOPLE!!!!!!!!!!!!!!

— HyundaiSmoke (View Profile)

Posted on 10/25/2009 1:10:01 AM | reply to this comment | Votes: 0   

HyundaiSmoke

Well, its no secret we dont get along etiher Enforcement.

Stupid Cops!!!!

— HyundaiSmoke (View Profile)

Posted on 10/25/2009 5:07:10 AM | reply to this comment | Votes: 1   

Inline6

Now, spend some of that money on the NSX, so we can have two wedge shaped supercars from Japan.

— Inline6 (View Profile)

Posted on 10/26/2009 6:52:46 AM | reply to this comment | Votes: 1   

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