Honda CEO Says Pulling Out Of Formula 1 Was Necessary

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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dlin - 10/23/2009 4:02:41 PM

+6 Boost

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.

MSP6 - 10/23/2009 4:19:30 PM

-4 Boost

That's one really narrow-minded point of view

david999 - 10/23/2009 4:56:25 PM

0 Boost

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

thstone - 10/23/2009 8:43:29 PM

+4 Boost

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.

MSP6 - 10/23/2009 11:14:00 PM

0 Boost

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

SpicyMikey - 10/24/2009 10:51:46 AM

+2 Boost

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?

MSP6 - 10/24/2009 11:42:15 AM

+2 Boost

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