Toyota to withdraw from F1
11-03-09, 05:25 PM
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Toyota to withdraw from F1
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.
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.
11-03-09, 05:28 PM
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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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11-03-09, 07:07 PM
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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. 
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11-03-09, 08:20 PM
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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.
11-03-09, 08:34 PM
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11-03-09, 09:37 PM
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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.
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The shame.
11-03-09, 09:44 PM
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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.
11-03-09, 10:02 PM
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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.
11-03-09, 10:09 PM
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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.
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.