'Toyota on the verge of quitting F1'

Williams sells minority stake in F1 team Bianchi handed Ferrari 'young driver' test Bernie: A December 11 deadline for Silverstone Kimi: I haven't spoken with Brawn-Merc Fry: Brave or stupid Button badly advised 'Schumi in talks with Mercedes GP' McLaren: We didn't ask for Button's early release Brawn to 'rigorously' enforce Button's McLaren ban 'I joined McLaren because I wanted the challenge' Trulli decision expected 'soon'

Wednesday 4th November 2009

Toyota are set to become the second manufacturer to pull out of Formula One this year, according to media reports.

Following BMW's decision to quit the sport at the conclusion of the 2009 season, the Japanese company is expected to announce its withdrawal with immediate effect.

Reports claim Toyota Motor Company's board of directors took the decision following an extraordinary meeting on Tuesday and will make an official announcement on Wednesday afternoon.

Toyota, the only Japanese automaker participating in F1 following Honda's withdrawal last year, is expected to post an operating loss for the six months ending in September and it hopes the move to pull out of F1 will help the company to slash costs drastically.

The Cologne-based outfit made their Formula One debut in 2002 and participated in 139 grands prix. They failed to win race in the seven-year period, but claimed three pole positions and several second and third-place finishes.

Their 2009 line-up of Jarno Trulli, Timo Glock and Kamui Kobayashi scored 54.5 points to help the team to fifth in the Constructors' Championship.

Toyota is reportedly looking for an Asian buyer for the team.

Your Comments

zvonko

"petefrombristol; I'll have some of that.... or even better Kobayoshi to Brawn. Much cheaper option than overated Button and he's already shown he knows how to overtake.

stormwarning

"Cheeseychips, Max was right, and it was teams like Toyota that went against Max's vision of a cheaper more sustainable F1. Can't help but think this serves them right."