High costs and really bad economic conditions forced its move, and the factory sponsored team is trying to find a buyer for team stuff.

Of course, it didn’t help that for Honda’s purported $900 million expenditure on F1 racing has yielded one victory in three seasons.

Ferrari, still whining about the potential for spec engines and transmissions, said it is accelerating its own cost reductions. Ferrari is aid to spend upwards of $400 million per year on its F1 program, so that will be some trim job.

At the same time, Ferrari says that cuts in F1 spending “shouldn’t reach the point where it wouldn’t allow healthy engineering competition,” according to a published report, taking a swipe at the spec powertrain plan.

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– Jim Smith