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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.

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R.I.P.

Hate to say it but F1 is finished.

.

Indeed.

And Renault may soon be doing the same

Quote:

Renault board considering following Toyota out of F1

Things have never been this bad for the Renault F1 team. Their performance is light-years behind where it used to be, their star driver is bolting once again, their top management has been thrown out of the sport in disgrace, and its biggest sponsors are leaving en masse. And now, following months if not years of speculation, the French automaker could be preparing to cut its losses and shut down its racing team altogether.

http://www.autoblog.com/2009/11/04/r...ing-toyota-ou/

Mercedes, Ferrari and the disgraced Renault team do not make for a good series.

fia is a cluster fuck. it's laughable what max mosley has done to f1. toyota didn't bow out due to economic reasons, they are saying fuck you, max.

Never fear, Harley Davidson will step up to the plate and supply engines.