Red Bull, financially boosted by its signature drink

As many F1 teams struggle with the global financial crisis, it seems that Red Bull Racing, with its energy drink, is in good financial health.

The Austrian company, owner of two Formula 1 teams, revealed this week that it sold more Red Bull cans in 2008 than ever before. The firm even plans to expand into new markets this year.

However, sales growth was less significant compared to previous years. Dietrich Mateschitz stated in the columns of the Salzburger Nachrichten that revenues will be even lower in 2009, by about 3 to 5% compared to 2008.

Despite these figures, there was no pressure from Red Bull to buy back the shares of its junior team Toro Rosso, previously held by Gerhard Berger. Mateschitz also welcomes the recent cost reductions in the sport.

« With both teams, we will save 100 million euros. »

But good news like this is rare in these times of crisis, and for a reason: Panasonic, the Japanese electronics giant, despite renewing its contract with Toyota, is more than struggling.

The company expects several billion euros in losses over the past twelve months, with the layoff of 15,000 people and the closure of 27 factories worldwide.

After the Honda crisis in F1, another Japanese manufacturer embroiled in turmoil has decided to withdraw from motor racing. It is Mitsubishi, which notably participated in the famous Dakar Rally.