Toyota will be the second major Japanese car maker to quit F1. It has been anticipated since long that Toyota would quit F1.
Toyota Motor Corporation has now publicized its policy to leave the FIA Formula 1 World Championship at the end of the 2009 season. And this is because of the company’s current economic crunch. This withdrawal by Toyota will be a blow to the Formula One.
Toyota’s connection with Formula One began in 2002. Toyota has been racing for eight seasons. The Toyota F1 team participated in 141 F1 races and accomplished 13 podium finishes. The team never won a race in spite of having an annual budget of around US$300 million. But the Toyota F1 team was fifth in the 2009 Constructors’ Championship.
Toyota mentioned that would keenly contribute to other developments of motorsports by supporting grassroots races and setting up events in which it is easy for people to participate. Now, the world’s largest car manufacturer will concentrate on its core business of making hybrids and electric cars.
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