Saturday May 11th, 2002

Volkswagen have confirmed that they will not enter Formula One in the future, dispelling suggestions that the car manufacturer was keen to join their rivals in Grand Prix racing.

The escalating costs of the sport appear to be warning away any interest from other manufacturers who could join Fiat (Ferrari), Ford (Jaguar), Daimler-Chrysler (McLaren-Mercedes), Renault, and BMW (Williams-BMW).

"Currently there is a group review of who does what in motorsport but for VW there will definitely be no Formula One programme," Frans-Josef Paefgen, the chairman and chief executive of Bentley Motors, who direct the VW group's motorsport activities, told the Financial Times.

"We have the resources to go the Ferrari route but you have to ask is it wise or profitable?"

Peugeot recently denied any interest in entering Grand Prix racing in the future, but Ford has re-issued its commitment to the sport.

Published at 08:58:38 GMT

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