Honda bows out as credit crunch hits Formula One
The credit crunch claimed its first victim in Formula One today when the
Japanese carmaker Honda announced that it was pulling out of the sport
immediately.
Credit crunch forces Honda into shock pullout from Formula One
Pummeled by the credit crisis, collapsing global auto markets and an army of
angry shareholders, Honda has pulled out of Formula One in a move that deals
a huge symbolic blow to the company’s image and could plunge the sport into
crisis.