MAY 14, 2006
Renault F1 commits to Formula 1 in 2008
Renault has committed to the Formula 1 World Championship for 2008 and beyond following an agreement to sign a contract with Formula One Administration. The news is expected to be followed in a few hours by word that all the GPMA teams have agreed to sign deals with the Formula One group to secure the future of the sport and bring financial stability that will hopefully allow the sport to expand dramatically.
The word on the street in Japan is that Renault may decide to switch brands in 2008 with Nissan being used instead of Renault. This makes a lot of sense given that there is a much better profit margin in top of the range luxury cars and Nissan has a much better record selling luxury machinery while Renault has a history as a low-cost, high-volume producer. It has had various attempts at moving into the luxury market without success.
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