In a sensational press conference in Tokyo, the world’s largest car maker confirmed it was quitting a sport on which it has spent an estimated £1.6billion since 2002 without registering a single win.
“It was a tough decision because we are betraying the expectations of fans,” said Toyoda, a racing enthusiast and grandson of the automaker’s founder. “I apologise to our fans from the bottom of my heart. I made the decision myself.”
Toyoda ruled out supplying engines to other teams, saying: “In terms of Formula One, we will make a complete withdrawal.”
Tadashi Yamashina, Toyota F1’s team principal, meanwhile, broke down in tears as he said he would try to help the newly-released Williams driver Kazuki Nakajima and Toyota starlet Kamui Kobayashi find other teams.
Following tyre company Bridgestone’s decision to stop at the end of 2010, F1 will be without a Japanese corporate involvement for the first time since 1983, and Toyota said its decision reflected “the current severe economic realities.”
Honda and BMW have already exited F1 while Suzuki and Subaru have withdrawn from the world rally championship, motorcycle maker Kawasaki has exited MotoGP and Mitsubishi is quitting the Dakar Rally despite a dozen victories.
It remains to be seen whether Toyota sells on its Cologne-based team as a going concern. Honda won plaudits last winter when it essentially left $120million in the coffers – the cost of winding the company up – as part of Ross Brawn’s management buyout.
Japanese companies take such responsibilities extremely seriously and Toyota will not want to garner negative publicity from sacking hundreds of employees.
It is also unclear whether Bernie Ecclestone will try to sue the manufacturer after they signed a Concorde Agreement this summer committing them to the sport until 2012. “I don’t know,” he said on Tuesday. “It’s not the sort of thing we do is it?”
Toyota’s withdrawal should be the only major bombshell of the off-season. Of the three remaining manufacturers – Ferrari, Mercedes and Renault – there is speculation that Renault may try to sell their team but the other two are locked in, with Mercedes actually in the process of taking over Brawn GP.
One or two of the newcomers could fail to make it to Bahrain next March, however. As it stands, four new teams are entered for 2010 and Toyota’s withdrawal paves the way for a fifth.
The Sauber team, which BMW bought and used as its F1 vehicle, was last month named as first reserve should any other teams pull out, although Ecclestone said it had not yet found a buyer.
Dear YB,
Please give us some positive energy.It is tiring to hear that other people semua
jahat and salah.
Please please,be positive.Its okay to be poor and it is ok to be rich too.
We do not want to be like Cuba.
Wahhabi.
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in bolehland nothing is difficult or bad economy. bolehland is the biggest economic zone of the world, F1, F2 , F3, C4 sampai F##K the world upside down also boleh..correct…correct…correct
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What DSAI was saying is the current economic situation of the world.When the major auto players pull out of the Formula 1 then there must be something wrong.F1 driver does not understand that DSAI implied that PETRONAS should do likewise.The Sepang circuit and other mega projects build is a waste of taxpayers money.The income generated by Petronas should be invested where it should make more money rather than being spend lavisly on expensive projects .The BN govt should invest in a good public transportation system.This can reduce traffic congestation,parking problems and the high cost to own and maintain a car.
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Dear F1driver,
Maybe you drive to fast that you unable to read the fine print. If you rich, it is good for you to venture to what ever you want but please don’t use ‘rakyat’ money through ‘Surat sokongan’ from Putrajaya to force Malaysian GLC to venture to your project, initiative or what so ever you call it. If you want some posive energy for your tired body why not ask ‘Tongkat Ali’ drink company to sponsor you. That will be better and remember, the slogan can also can inspire you. ‘Semua orang boleh jadi Jutawan’.
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Syarikat gergasi TOYOTA pun dah tak sanggup nak invest berbillion-billion dalam F1 lagi dah. Sebab tak tahan dengan cuaca ekanomi sekarang ni. Tapi yang peliknya, Malaysia masih dok gatai tangan nak masuk F1, nak perabih duit rakyat, atas nama 1Malaysia.
Apa kejadahnya 1Malaysia, kalau duit billion-billion tu setakat nak kenyangkan dua, tiga kerat kroni saja. Baik tak payah buat.
Lagi baik duit tu buat rumah untuk setinggan, buat sekolah, buat hospital dan bantu rakyat yang miskin yang lebih memerlukan. Projek semacam tu baru layak dipanggil projek 1Malaysia.
Tapi apa boleh buat, tukang angguk dengan tukang kipas ramai sangat. Semua nak jaga tembolok sendiri, tembolok orang peduli apa. Aku kenyang sudah le……..
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