11-04-2009, 08:49 PM
|
|
|
Industry Role:
Join Date: May 2003
Posts: 12,464
|
Toyota quits Formula1 due to economic reasons
Quote:
Today, Toyota Motors said sayonara to Formula One leaving Japan without a racing team in motorsports premiere event. The Cologne based racing team and engine supplier dealt yet another blow to the sport after Japans number-two automaker, Honda, called it quits last December. Honda-backed Super Aguri left the series early last year citing economic reasons.
Despite spending around $300 million a season, the decision to pull out of the series comes as no surprise to F1 fans as Toyota has not received a single top podium finish since its debut in 2002. ?This was a difficult but ultimately unavoidable decision,? said company president Akio Toyoda. ?Since last year with the worsening economic climate, we have been struggling with the question of whether to continue with F1,? he stated.
|
Full article
R.I.P. |
|
|