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Toyota to withdraw from F1

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Old 11-03-09, 06:25 PM   #1
Vladi
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Default Toyota to withdraw from F1

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Japanese press reports Toyota F1 withdrawal

According to the Mainichi Daily Newspaper from Japan, Toyota has decided that it will withdraw from Formula One. A meeting on 8 November was scheduled, but it appears that the board of directors have already decided against participation in 2010.

The newspaper reported: "Toyota Motor Corp., the world's largest car company with the biggest presence in motorsport has decided to withdraw from Formula One and not participate in 2010."

President Akio Toyoda will formally open a four-day meeting of the board tomorrow. It is believed from several sources of the newspaper that a decision is already set about the Formula One team operations.

Toyota is already racing in Formula One since 2002 and entered after a full year of preparation and testing, only to find itself in a struggle for points. The initial was back then to at least run until the end of 2012 but the recent economic downturn makes this expense difficult. Toyota is expected to have 2 consecutive years of financial losses.

Along with Honda's pull out last year, Toyota would leave a Japanese void in Formula One.

The newspaper also reports that several alternatives are being investigated to protect the employment of the member of the team. It is thought that a transfer or a continued cooperation with Formula One of some sort is being looked into.
Hopefully this doesn't turn out to be true.
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Old 11-03-09, 06:28 PM   #2
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I REALLY hope this is a rumor with no truth to it. With Akio Toyoda running the company, and with the LFA set to hit the market in the future, pulling out of F1 for Toyota right now would be a BIG mistake.
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Old 11-03-09, 06:34 PM   #3
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Well it's not like their the first...
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Old 11-03-09, 06:55 PM   #4
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Yes but aren't the other big racers pulling out too? Ferrari and I think BMW?
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Old 11-03-09, 06:57 PM   #5
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Formula 1 in its current state is a joke, its days are numbered.
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Old 11-03-09, 07:51 PM   #6
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I'm with och. It needs a revamp of leadership and rules and they need to come back to America and Canada.

I've barely watched this year and totally understand Toyota following BMW and Honda.
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Old 11-03-09, 08:00 PM   #7
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No wonder Michael Schumacher is trying to get the Stig job
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Old 11-03-09, 08:07 PM   #8
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It's official. Very sad indeed, particularly because the rookie Kamui Kobayashi has shown so much promise in the last two races.
http://translate.google.com/translat...istory_state0=
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Old 11-03-09, 09:20 PM   #9
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I'm not too surprised, although not a close follower of the negotiations/behind-the-scenes. It seems the economy, organizational turmoil, and the growing list of those who already left give cover to this decision.
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Old 11-03-09, 09:27 PM   #10
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If this is true its no surprise
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Old 11-03-09, 09:34 PM   #11
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Quote:
Originally Posted by 1SICKLEX View Post
I'm with och. It needs a revamp of leadership and rules and they need to come back to America and Canada.

I've barely watched this year and totally understand Toyota following BMW and Honda.

You mean like a new president? Oh wait they just did that
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Old 11-03-09, 10:37 PM   #12
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Quote:
Originally Posted by Mister Two View Post
It's official. Very sad indeed, particularly because the rookie Kamui Kobayashi has shown so much promise in the last two races.
http://translate.google.com/translat...istory_state0=
It's not official yet.

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Originally Posted by TRDFantasy View Post
I REALLY hope this is a rumor with no truth to it. With Akio Toyoda running the company, and with the LFA set to hit the market in the future, pulling out of F1 for Toyota right now would be a BIG mistake.
I totally concur

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Originally Posted by 1SICKLEX View Post
I'm with och. It needs a revamp of leadership and rules and they need to come back to America and Canada.

I've barely watched this year and totally understand Toyota following BMW and Honda.
I agree F1 is in a state of dis-repair, but Toyota will go straight onto my **** list, right below BMW if they pull out of F1 without nary a win. They literally have no excuse to do so now and save face.
The shame.
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Old 11-03-09, 10:44 PM   #13
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If Toyota pulls out of the sport, it will still cost them A LOT of money to do so. People need to understand that. Toyota could drastically cut their budget yet remain in F1, reducing expenses on F1 yet staying in the sport.
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Old 11-03-09, 11:02 PM   #14
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If they actually do pull out, the only thing IMHO that would be close to redeeming themselves would be to instead put their resources into a full-scale assault on the 24 Hours of Le Mans.
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Old 11-03-09, 11:09 PM   #15
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No. No redeeming... I'm fairly irrational when it comes to F1. They are going to be on my **** list for a long while.

I'm also pretty sure it'd cost them less to wait out the Concord agreement and operate on a reduced budget, but I'm sure they won't want to continue loosing for another 3 yrs. The guys a cologne really botched it, because I'm sure even 1 win would have secured the future of the team, and they had at least 3 chances this year.
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Old 11-03-09, 11:09 PM
 
 
 
 
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