Photo source: Toyota F1 team
Reuters has picked up a report from the Japanese newspaper Mainichi that indicates Toyota will announce tomorrow that it's leaving Formula One ahead of the 2010 season. Fielding an F1 team is expensive, of course, and perhaps not the sort of luxury Akio Toyoda can indulge given the world's largest automaker's current state of affairs. And Toyota has been at it since 2002 and has nary a win to show for it.
Toyota's departure would presumably open up a spot on the 2010 grid for the reconstituted BMW Sauber team (now owned by the Swiss-based Qadbak Investments), which had been bumped by the new Lotus F1 team.
But of course this is all speculation until the official announcement comes in a few hours.
estreka says:
05:33 PM, 11/ 3/09
F1's roster is getting to be as diverse as NASCAR's.
jackson611 says:
06:21 PM, 11/ 3/09
Toyota has been thought to have the highest budget in F1 since it started. If you figure that its costs are around what has been estimated to be around $650 million for 1 season (2006) from 2002-06 and then reduced to $400 million per season for 2006-09 then it comes to a total cost of about $4.2 billion dollars.
Toyota is in F1 for the same reason all car companies sponsor NASCAR. for advertising. while Ferrari uses F1 for advertising, it also uses it for R&D. In 2008, toyota spent about $1.1 billion on conventional advertising. the great thing about F1 is that it provides international advertising, while also contributing to R&D. while there are no parts of an F1 car that can be immediately adapted to a Camry, information learned can assist in producing the cars of the future. by cutting the F1 program it is also cutting of a great opportunity to reach a diverse international audience and future development.
Toyota has had abysmal results in the past, but it has had mixed success with the current formula (due mostly to its drivers), and with little changes to next year's formula, it would be a shame for it to stop operations now. sure the economy is down, but it is showing signs of recovery, and F1 has to be thought of as a long term investment.
with 2 good drivers (it already has one in Kobayashi) it has the potential to challenge for both championships next year. what Toyota needs is an experienced driver (Nick Heidfeld comes to mind) that it can sign cheap, but can also perform.
rick8365 says:
06:53 PM, 11/ 3/09
Well said, Jackson. A couple of years ago I was wondering how come Toyota was always a back marker. With each race they have moved closer and closer to the front and points/podium finishes. I really felt like the were going to get their first win(s) this coming season. I too think they are stopping just short - a shame.
f1ndler says:
02:09 AM, 11/ 4/09
So it makes a total of four experienced (Kimi, Heidfeld, Glock and Trulli) drivers unemployed for the next season. I hope USF1 isn't going to miss this opportunity to sign a contract with at least one of them.
f1ndler says:
02:16 AM, 11/ 4/09
Oh, wait I forgot... They want USF1 to be a national team. What a pity(((