Toyota Apologizes to Fans for F1 Failure

Toyota became the third manufacturer to leave Formula One through the duration of a single year, following the withdrawal of Japanese rivals Honda and German marque BMW. In all these 3 cases, it was a question of finances, as all the leaving came as an effect of the economic crisis worldwide.

Company president Akio Toyoda revealed, in his press conference at Tokyo earlier today, that Toyota has been considering to pull out from the Great Circle throughout the duration of the 2009 season, as the economic climate kept on getting worst. Curiously enough though – we'd argue – Toyota were one of the least affected car manufacturers in the world amid the crisis.

Toyoda insisted that the company he manages made the decision with a great deal of regret, especially since the Japanese manufacturer failed on reaching its target in Formula One. Toyota has been known, over the years, as the biggest spending constructor in the sport, yet they never got to score a single win in 7 years.

“This was a difficult but ultimately unavoidable decision. Since last year with the worsening economic climate, we have been struggling with the question of whether to continue in F1. We are pulling out of Formula 1 completely. I offer my deepest apologies to Toyota's many fans for not being able to achieve the results we had targeted,” said Toyoda, according to the Reuters news agency.

Ever since they set foot in Formula One in 2002, Toyota scored an overall 13 podium finishes and 3 pole positions. Their best championship finish throughout this period of time was a 4th place in the constructors' classification back in 2005.