Haas F1 team denies rumours of financial strife

Apr.10 (GMM) Formula 1’s smallest team is playing down suggestions it may be in financial strife.

As global markets reacted with extreme volatility to the ongoing Donald Trump tariff saga, the Haas team’s parent company Haas Automation issued a statement.

Tellingly, the letterhead also featured the Haas F1 Team logo, while the content alarmingly revealed that demand for Haas machine tools has seen a “dramatic decrease”.

Haas said it has reduced production, eliminated overtime, and halted hiring.

Since the statement was issued, Trump has paused the global tariffs – with the exception of China – for 90 days, revealing that most countries are willing to negotiate.

As for any impact on the Haas F1 team, a spokesman said: “The team continues to operate as normal. There are no changes to the development process, recruitment, or other projects.”

The tariff saga and major global market upsets come at a fascinating time in Formula 1, as the engine suppliers are scheduled to meet in Bahrain to discuss the potential return of V10 engines.

There may now also be a compelling financial case for hitting reverse gear on the radically-electrified new rules. “Cadillac isn’t yet eligible to vote because they haven’t yet registered as an engine manufacturer,” Auto Motor und Sport reports.

Particularly interesting, however, is that CEOs apparently attend to be present for the meeting, including Mercedes’ Ola Kallenius and Gernot Dollner of Audi.