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Official: Honda quit Formula One
By Phil Huff
December 5 2008
Honda Racing F1 have officially withdrawn from Formula One, the parent company confirmed this morning. With a global downturn in demand for cars, seeing Honda's sales fall by more than 30%, the company is making the tough decision in order to protect its core business and secure the long term future for the firm.

The news, announced by President and CEO of Honda Motor Co Ltd, Takeo Fukui, puts the 650 staff at Brackley and Bracknell at risk of enforced redundancy, unless a buyer can be found between now and early next year. There are also around 200 people employed indirectly in supporting the team.

It is understood that all raw material orders have been cancelled, the main wind tunnel has been shut down, and night shifts have been moved to early morning shifts. The team are to continue preparing two RA109 chassis for testing, and prepare a further two for the first race of the season. However, the cars will not travel unless a buyer can be found.

Honda entered Formula One for a third time in 2000 supplying BAR and Jordan, having kept a hand in through their Mugen-Honda venture. In late 2005 Honda purchased 100% of BAR, turning the team into Honda Racing F1. Since that time the team have secured  just a single win, one pole position, and just 106 points, 86 of them in 2006 alone.

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