Honda and Acura and Audi pull out of ALMS/F1

TOKYO/INGOLSTADT, Germany — Saying it was "an extremely difficult decision," Honda announced on Friday it is withdrawing from all Formula 1 activities in the wake of the global financial crisis. Separately, Audi announced that it will not run a factory team in the 2009 American Le Mans Series.

Honda Motor president and CEO Takeo Fukui blamed the economy. "This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry, brought on by the sub-prime problem in the United States, the deepening credit crisis and the sudden contraction of the world economies," he said in a statement.

Honda said it is "offering the team for sale." "We will enter into consultation with the associates of Honda Racing F1 Team and its engine supplier Honda Racing Development," Fukui said.

Honda has participated in Formula 1 races from the 2000 season. It began running a solely Honda-owned team in 2006.

Meanwhile, Audi promised to continue its efforts in the Sebring 12 Hours next March as well as the 24 Hours of Le Mans in France next June. The company said it had decided to focus on the R15 TDI sport prototype racing car that it is preparing for Le Mans and the R8 LMS that it is offering for customers to race in GT3 series. Audi did not directly blame economic conditions for the decision.

Inside Line says: Who's next?