Toyota Officially Quits Formula One
November 4, 2009
After 8 years of racing at the very top of world motor sports, Toyota has announced its withdrawal from Formula One. The announcement does not come as a surprise as rumours of Toyota’s departure has been circulating the pits for a couple of months already. Since it’s first race in 2002, Toyota has only managed to secure 13 podium finishes, a couple of pole positions and 87 point finishes – a very sad return for a team whose annual budget is purported to be in the region of US$400 million. Read Toyota’s official statement after jump.
Toyota to Withdraw from F1
Tokyo – Toyota Motor Corporation (TMC) announces its plans to withdraw from the FIA Formula One World Championship (F1) at the end of the 2009 season.
TMC, which had viewed its participation in F1 as contributing to the prosperity of automotive culture, remained dedicated to competing at the pinnacle of motor sports, even in the face of the abrupt economic changes that started last year. However, when considering TMC’s motor-sports activities next year and beyond from a comprehensive midterm viewpoint reflecting the current severe economic realities, TMC decided to withdraw from F1.
TME leaves F1 having compiled 13 podium and 87 point finishes over eight challenging seasons since 2002 with Panasonic Toyota Racing, a full-constructor team. It views its time in F1 – in which teams put forth their best efforts to fiercely compete at racing’s highest level – as an irreplaceable experience that provided an opportunity to develop both human resources and its R&D operations. TMC expresses its deepest appreciation to its F1 fans and others for their warm support.
TMC also wants to express its heartfelt gratitude to all Panasonic Toyota Racing drivers to date and to all Toyota Motorsport GmbH employees who have helped make the team’s achievements possible. TMC intends to do its best to find a solution for those parties who will be affected by any inconvenience this decision may cause.
Drawing on its experience in F1 and other motor sports, TMC intends to move forward in developing exciting production vehicles, such as the Lexus “LFA” supercar and compact rear-wheel-drive sports cars. In motor sports, it will not only race in various categories, but will also actively contribute to further development of motor sports by supporting grassroots races and planning events in which it is easy for people to participate.
finally, it’s time for them returning to the WRC scene…
who’s gonna buy this team up?
Toyota used to be the biggest spender in F1, 80 million dollar/season & still not win a single grand prix race, the problem with the auto manufacturers is they are too ambitious, i think car manufacturer should only supply the engine to the racing team like before, this will reduce the cost.
just quit and save money in this economic downturn la..same goes to every team
stupid malaysian joining in XDD
dulux78 , biggest what? ’spender’ ?
weii toyota wait laa.. next year us malaysian team wanna race you maa… scared ah? aiya..
F1 so cheap to you one. you big manufacturer whattt.. not a waste lahh..
Toyota….. bye bye la. Don’t even know why you got into F1 when the only car every to be made out from your F1 exploits is the LFA. Damn sad. Should have just be in US Nascar and look seriously into touring cars and not F1. So now you wasted millions. Please waste some more. Please. Go on further till you need to be bought by another company. Instead of reading how good your manufacturing and QC is, i think the biggest lesson you should have is spending those money to get very good drivers and only compete in races that you can absolutely win. You can afford it.
You can only last 7 lashes? Hah!!!
i think we will be saying the same thing to the malaysian f1 team next time..lol
Toyota’s failure is not down to a case study of “money doesn’t buy success” instead their failure is a case study that management plays a huge part.
The Toyota F1 team were run by the traditional Japanese method of consulting your superiors and drawing from case studies before making critical decisions.
In F1 that means you will always be a race behind the other teams.
To succeed in F1 you need a team that eats, breaths, sleeps F1. That they can make split second decisions, and rethink the entire race strategy in the time of a lap.
The key is experience and flexibility, just look at what Williams are doing with the Toyota engine and chassis.
Their F1 experience and flexibility makes them ahead of Toyota in the standings. And it shows the difference between a team that lives for F1 and another that doesn’t.
hause…..i agree wit cha!!!
Finally they are out of F1,…….. Now they can focus on WTCC or WRC which is cheaper and also resume developing cheap GT models.
dude, the reason they left their glorious days at WRC is because of F1!
U have a point hause. But then again, with the money, i wonder why they didn’t spend it on people who breathes and eats F1? When they came, i was all for it. They got the cash and flash. First few years was ok as expected. Mid carder stuff. Having Ralf did or not help in a sort of way. The Schumatcher name did help a little since Michael was in Ferrari. So everything about the team seems to be riding in coat tails.
They make great passanger and luxury cars. But i think those racing heritage that Toyota have is not fully appreciated by themselves. WRC (was), NASCAR (is) some of the things they have been very good at. But one wonders why F1?
Now no more money. Used the money to fund LFA. Now if LFA sales bombs, don’t expect them to come back to F1 for at least 5 years. That time they hope to sell barrels of PRIUS and IQ to reduce this mishap.
Good riddance