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ECONOMIC CRISIS HITS AUTO RACING; Honda and Acura are the latest casualties. Will anyone be left?(NEWS)

AutoWeek

| December 15, 2008 | COPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: AUTOWEEK STAFF

The global economic crisis hit racing hard on Dec. 5, as Honda and Audi dropped the biggest bombs yet on a sport long notorious for consuming enormous sums of money. Combined with layoffs already announced in NASCARa seemingly impenetrable sport at the top of the food chainHonda's and Audi's decisions to slash racing activities leave many thinking that next year's race grids will be shadows of their formerly robust selves.

The Japanese were as pragmatic as expected. "As widespread uncertainties in the economies around the globe continue to mount, Honda must protect its core business and secure the long term, said CEO Takeo Fukui. ...

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