Although Toyota seemed to have recovered well from the economic turmoil worldwide, it seems the money-sucking operations in F1 would have no longer been sustainable.
“Toyota Motor Company, which had viewed its participation in F1 as contributing to the prosperity of automotive culture, remained dedicated to competing at the pinnacle of motor sports, even in the face of the abrupt economic changes that started last year,” said a statement for Toyota.
“However, when considering TMC’s motor-sports activities next year and beyond from a comprehensive midterm viewpoint reflecting the current severe economic realities, TMC decided to withdraw from F1.”
“TMC leaves F1 having compiled 13 podium and 87 point finishes over eight challenging seasons since 2002 with Panasonic Toyota Racing, a full-constructor team. It views its time in F1—in which teams put forth their best efforts to fiercely compete at racing’s highest level—as an irreplaceable experience that provided an opportunity to develop both human resources and its R&D operations. TMC expresses its deepest appreciation to its F1 fans and others for their warm support.”
In addition, the Japanese manufacturer announced that it will switch their focus to other motor racing series worldwide.
“In motor sports, it will not only race in various categories, but will also actively contribute to further development of motor sports by supporting grassroots races and planning events in which it is easy for people to participate.”
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