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Toyota considering quitting F1

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#1 ·
Toyota considering quitting F1
F1 | Formula 1 | F1 News | F1 Live - Yahoo! Eurosport UK

Eurosport - Wed, 30 Sep 07:55:00 2009
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A senior Toyota executive said that quitting Formula One racing was an option for the car maker, partly in view of the costs involved, Japanese media reported.


"We need to turn it into an F1 where you don't need so much money," Toyota team head Tadashi Yamashina said in Tokyo, according to the Yomiuri newspaper.

"We'll have to consider various issues while bearing in mind our ties with the main company," he added, referring to the team's owner, Toyota Motor Corp.

The Cologne-based Toyota team, who have yet to win a race since their debut in 2002 despite having an annual budget estimated at around $300 million last year, has signed up with the International Automobile Federation to drive in the 2010 championship.

If Toyota leaves Formula One, it will follow the lead of rival Honda Motor which exited the sport by selling its racing team to management.

The renamed Brawn team has dramatically improved its form with its two drivers leading the 2009 Formula One standings, although a German auto magazine has reported it might end up three-quarters owned by Mercedes-Benz, a unit of Daimler AG.
Reuters
 
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#3 ·
They've been wasting a ton money in F1 for years with dismal results.

Evidently they won't decide about 2010 until an executive committee budget meeting in November. By then they'll have third quarter financial results, and if they're bloody then they're probably out of F1.

Kinda reminds me of last year's last minute pullout of Honda.
 
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