Max Mosley is convinced another Formula One manufacturer will pull out of the sport if the car industry continues to struggle.

Only four days ago, Honda caused a considerable shock by putting their team up for sale due to the economic downturn and a worldwide slump in car sales.

That has placed a question mark over whether the five manufacturers still involved in F1 - Ferrari, Mercedes-Benz, Renault, Toyota and BMW - will follow Honda out of the sport.

Mosley, president of motor sport's world governing body the FIA, concedes Formula One is in limbo until the global economy becomes more stable.

"I don't think F1 is teetering one way or the other in terms of bust or survival, but if things get worse in the car industry then it could be," Mosley told PA Sport at the Motor Sport Forum in Monaco.

"At the moment nobody can say we are seeing the bottom and that it will improve.

"All the stock markets are up in the last two or three days, and they may think things are going to get better.

"They may be right, but then again they may be wrong. The thing is, we literally don't know.
"If things get better for the car industry, then that's fine, we are through the worst. We would just need to sort out Formula One.

"If things get worse, then our problems will get worse.

"But at present I haven't heard anything specific as to whether another manufacturer will pull out. Again, I don't think anybody knows.

"But if the situation does get worse for the car manufacturers then we will lose another one.
"Whether that would be before the season starts is difficult to say. We are in unknown territory."

Mosley is due to meet the remaining nine members of the Formula One Teams' Association (FOTA) in Monaco later today to discuss his standardised engine proposal for three years from 2010.

It is understood the required number of four teams are ready to put pen to paper on a deal that would see them pay only £5.49million per season for the three years of the contract.

"We are in discussion mode at the moment," added Mosley.

"A lot of the teams would like a base engine, but the manufacturers may also make an offer which could be interesting, so we will see how it develops.

"It would be better if they accepted the proposal, but you cannot pre-judge what other people come up with.

"They might come up with something completely new that we haven't thought of, so one has to keep an open mind.

"Today is make-your-mind-up time, but I don't yet know what they are going to put forward.
"If it looks good, then that's fine. I just want to make sure we are not going to wander into a catastrophic situation without knowing what we are doing."