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Does new motorsports head man for VW mean F1? UPDATE (GMM)  Volkswagen, the German carmaking giant, has played down suggestions it could launch a formula one project some time soon.

"There are always rumors about Volkswagen and formula one," said Jost Capito, who has taken over from Kris Nissen as the head of the Wolfsburg-based company's motor racing boss.

However, he is quoted by Germany's Sport1 as insisting that VW is only concentrating on its world rally program.

"The WRC program is approved from 2013 to 2015," Capito insisted.  "There is no room to think about anything else.

"It (F1) is not on our radar," he is also quoted as saying by France's L'Equipe.  "Our hands are full already."

In the wake of BMW, Honda and Toyota's departures, the only mass production carmakers in F1 are Renault - as an engine supplier - and Mercedes.

Ferrari, McLaren, Lotus and Caterham produce niche sports cars.

03/29/12 Jost Capito is take over the management of Volkswagen Motorsport, from May 1. He will replace Kris Nissen who will remain an advisor to the Group in the future, but is giving up his day-to-day role.

Jost Capito joins Volkswagen from the Ford Motor Company USA and has a wealth of experience in motorsport. He started his career as a development engineer at BMW and in 1989 became head of the Carrera Cup organization at Porsche and subsequently assumed overall responsibility for all Porsche Cups. From 1996 to 2001 he was a leading figure at Sauber Petronas Engineering and in 1998 he was appointed Chief Operating Officer in the Sauber Red Bull F1 Team. At the end of 2001, Capito he moved to Ford where he most recently had worldwide responsibility for the performance vehicles and motorsport strategy.

Nissen, a former international racer until a fiery accident ended his career, has been managing director of Volkswagen Motorsport since 2003. He played an important role in creating VW’s success on the Dakar Rally. Joe Saward

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