Honda has officially announced that they are quitting F1 racing definitively.
The economic crisis had a negative effect on Honda, dropping the sales more than 30% in the last months. They have decided to keep their business intact by pulling out of F1. Dr. Klaus Draeger from BMW AG, has declared that BMW regrets this decision, but it won’t have any effect on their future plans. BMW is trying to demonstrate that they can built quality cars on the race track and this is an important part of their marketing strategy.
Apparently, BMW is making more than they spend in Formula 1 and they are not planning on giving it up anytime soon.