German carmaker BMW says its pulling out of Formula One motor racing
Karlotta BahnsenJuly 29, 2009
German carmaker BMW says it is pulling out of Formula One motor racing at the end of 2009. It's now the second major manufacturer to quit the sport since Honda's pullout last December. Motorsport's governing body, the FIA, says it's not surprised by the move and hopes cost cutting measures will stop more departures. But BMW insists money wasn't behind its decision, which was driven instead by a change in company strategy.