Toyota which is also the world’s largest car manufacturer has said that they will be concentrating on their core business / Toyota withdraws from Formula 1
Toyota president Akio Toyoda said “The current severe economic crises has effected many of us so we had no option but to pull out. We apologise to our fans who have supported us through out our campaign.”
Toyota made it’s debut in the 2002 season and has raced in 139 races but failed to win any of them. Their biggest success was fifth in the 2009 constructors’ championship.
The companies withdrawal makes the tally go up to 3 in the past 11 months as Honda left F1 at the start of the 2009 season and BMW announced it was leaving in July.
In May Toyota revealed its worst set of figures for the last financial year – a £2.9bn loss in the year to 31 March, 2009.