Kawasaki pulls out of MotoGP

Japan’s Kawasaki Heavy Industries said on Friday it will withdraw from the MotoGP racing circuit as the global economic crisis pressures the firm to cut costs.

”The effect of the current financial crisis on the global economy is extremely significant and an extended period of time is required for a recovery,” Kawasaki said in a statement.

”We saw the need for efficient redistribution of our management resources and have decided to forgo participation in the Moto GP from 2009 on,” it said.

Kawasaki spends roughly four billion yen ($43,8-million) annually to run the team, said an official of the company based in the western Japanese city of Kobe.

With the decision, Kawasaki joined a growing number of major Japanese auto manufacturers that have terminated their racing programmes to cut costs as consumer demand for new vehicles plummets worldwide.

Honda took the shock decision to retire from Formula One racing, while Subaru and Suzuki pulled out of the World Rally Championships.

Kawasaki joined the racing circuit in 2003 to boost its brand image and develop its design technology. – AFP



We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Related stories


Already a subscriber? Sign in here


Latest stories

Chile’s lithium a poisoned chalice

It provides profit to billionaires but exhausts the land and its people

World Lion Day: Five young lions rescued in Romania arrive...

The country’s captive lion population of 9 000 is three times the size of the wild lion population.

Marikana lawsuits to be finalised by end of August

The state has already paid out R170-million in claims following the August 2012 massacre

Keeping it surreal: The game in Spain is mainly insane

Just when you thought the Spanish off season couldn’t get any weirder, Lewandowski and his costly colleagues might be left in lavish limbo

press releases

Loading latest Press Releases…