Monday, October 10, 2011
By Pranjal Gera
Top shots such as Honda, BMW and Toyota go missing from Formula One Championship
Formula One World Championship, a name that needs no introduction in the world of cars is facing an all time low in its history of 61 years. The sport which revolves around cars is capable to appeal and maintain its reputation among the car manufacturers is on the verge of shrinking interest.
The renowned Ferrari and Mercedes Benz are the only two teams out of the participating twelve teams whom are controlled and owned by the car manufacturers. To name the third is Renault, who doesn’t have any major role to play but a cameo, as an engine provider to the other participating teams. Going back, if we look at the year 2005 there were ten teams out of which seven teams were car manufacturers. Something has changed… and that’s the approach among the car companies.
The financial reports of the year 2008-2009 and the severe blow of loss made the car producers to rethink over what they were benefitted in relation to what they were paying out. The heightened business anxieties had led top notch manufacturers like Honda, Toyota and BMW to move out of F1.
Renault pulled itself out and came in as the engine manufacturer in order to save the engineering and monetary resources for their passenger car functions, as said by Renault India official.
After the loss in 2008-09, the Toyota withdrew itself from the 2009 F1 event. As per the representative of a leading car magazine in India, the profitability is always there if the team is performing well, but if the teams are ending up on losing side, it never makes brains.