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Home News

Automotive blues

Since the credit crunch hit global markets, we have reported on many an incident involving the automotive industry in one way or another, such as people having to give up their Ferraris and so on.

by Staff Writer
February 23, 2009
in News
Reading Time: 1 min read
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Well, for petrolheads all around the world the financial crisis and its ripple effect into the motoring world is currently taken on the proportions of a recurring nightmare – it just keeps getting worse and worse.

The latest chapters have seen the global motor racing circuit and the domestic motor racing fraternity affected with two highly recognisable names of the sport suspending their involvement.

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Firstly in the Formula One arena, Japanese motoring giant Honda has withdrawn from the F1 circus, citing the effects of the global economic downturn as the reason.

On our own shores it was recently announced there would be no Porsche Carrera Cup Championship anymore as a support event for the V8 Supercars because, due to the economic crisis, organisers could not ensure a full field of competitors would grid up for the contest.

We’re hoping this will be the last lot of pain inflicted on motoring enthusiasts in the current climate, but we doubt it.

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