Legend2TL

Toyota has confirmed that it is pulling out of Formula 1 racing after posting its worst ever financial loss.
The world's largest car manufacturer will concentrate on its core business.
Toyota president Akio Toyoda said the Japanese team had no option but to pull out citing "the current severe economic realities" affecting the world.
The team failed to win any of the 139 races it entered after making its F1 debut in 2002 but was fifth in the 2009 constructors' championship.
Toyota's withdrawal leaves the sport with no Japanese team after Honda left F1 at the start of the 2009 season. They become the third manufacturer to quit the sport in the last 11 months after BMW announced it was leaving in July.
Honda were replaced by Brawn, who went on to win this year's drivers' championship with Jenson Button and the constructors' championship.

F1 team review - Toyota

In May the company revealed its worst set of figures for the last financial year - a 436.9bn yen (£2.9bn) loss in the year to 31 March, 2009 and is expecting further losses when it posts its results to September 2009 on Thursday.
"It was a tough decision because we are betraying the expectations of fans," Toyoda, a racing enthusiast and grandson of Toyota's founder, added.
"I apologise to our fans from the bottom of my heart. I made the decision myself."
He also ruled out supplying engines to other teams, saying: "In terms of Formula 1, we will make a complete withdrawal."
Williams announced last month that it would be replacing its Toyota engine with a Cosworth for next season.
Cologne-based Toyota F1's demise could pave the way for Sauber to return, after Swiss-based Qadbak Investments stepped in in September following BMW's withdrawal from the BMW Sauber team.
At the time, the FIA gave Sauber "14th place" for next season, meaning they were first reserve to fill any vacancy.
Toyota's season promised much after long-term driver Jarno Trulli finished third in the opening race of the season in Australia and followed that with another third in Bahrain, after starting race four from pole position.
His team-mate Timo Glock also stood on the podium after finishing third in the rain-affected second race of the season in Malaysia.
But neither driver would reach the podium again until race 14 when Glock finished second behind Britain's Lewis Hamilton in Singapore, equalling the team's best finish to a race.
One week later, in early October, Trulli also came second at the Japanese grand prix at Suzuka.
606: DEBATE
Although it is sad for a global sport not have a big Japanese manufacturer on the grid, their decision is understandable given the circumstances


Jimbatron

Japanese driver Kamui Kobayashi joined Trulli, who finished the season eighth in the standings, for the final two races of the season after Glock, who came 10th, was injured.
Trulli is tipped to join Lotus while Glock is expected to move to Renault later this week but Kobayashi's future is less clear.
Germany's Ralf Schumacher, France's Olivier Panis and Britain's Allan McNish have also all driven for Toyota over the years.
Japanese tyre firm Bridgestone announced on Monday that it would not be renewing its contract to supply F1 after its current deal runs out at the end of the 2010 season.
In July Toyota pulled out of hosting the Japanese Grand Prix at its home Fuji Speedway circuit from next year.
Fellow Japanese companies Subaru and Suzuki withdrew from the World Rally Championship prior to this season while Kawasaki pulled out of MotoGP.

Chief F1 Fan

then WTF was Toyota doing offering Kimi a ride? At least now there's room for the Qabak or howeverthehellyouspellit team that was once BMW.

Legend2TL

http://news.bbc.co.uk/sport2/hi/moto...ne/8337284.stm


Tyre manufacturer Bridgestone will not be renewing its contract to supply Formula 1, after their current deal expires at the end of the 2010 season.
The Japanese firm was appointed official tyre supplier ahead of the 2008 season on a three-year contract.
The decision means F1 will need to find a new supplier to provide tyres for the teams in the 2011 season.
The company insisted the global economic crisis was not the main reason behind its decision.
"It is not mainly the depressed economic situation," said public relations manager Kaoru Tomizawa.
"We are looking more at where tyre demand needs to be focused."
Bridgestone will continue its interest in Formula 1 next season but wanted to concentrate on new technology and products after that.
"The company has decided to redistribute its resources as part of a changing business strategy," added Tomizawa.
"There has been a change of direction towards further developing areas of the business where demand is greatest and which support the company's aims."
Honda pulled its team out of the sport last December to cut costs while Subaru and Suzuki subsequently quit the world rallying championship and bike maker Kawasaki scrapped its MotoGP team as the market downturn hit hard.
Bridgestone has been supplying tyres to Formula 1 since 1997.
A company statement said: "(Our) collaboration with F1 has contributed to increased brand awareness and the recognition of Bridgestone as a leader in the global tyre industry.
"Having achieved these goals, Bridgestone is now poised to take its technological and brand building efforts to the next level."
606: DEBATE
What do you think of Bridgestone pulling out?
Bridgestone said that no decision had been made about possible job cuts but that it would try to reassign workers at its Tokyo base.
Tyre plants in Australia and New Zealand were closed by the company last month.
"We still have a year left in F1 so no final decision has been taken on how it will impact the employees," stated Tomizawa.
"But we would like to respect their contribution before deciding about that."

dom

FI is just too damn expensive. As much as we all hate to see it, a cap may have actually helped.

F-C

I'm not sure about Sauber. I would imagine that if Toyota found a buyer for its team, then the 14th spot would belong to that team rather than Sauber.

fsttyms1

Should have had more than one tire manufacturer the way it was. Having one imo was dumb. I liked the days of Michelin and Bridgestone

Moog-Type-S

It's a sign of the economic times.
They will all be drawn back to F1 in a few years, when they are back in the "black".

VTEC Racer

Did they ever have a win? Toyota's F1 endeavors were doomed even before their first race.

Edward'TLS

Agree. I too enjoyed the fights between Michelin and Bridgestone. They sure added more interesting and sometimes even surprising twists to the race results.

Chief F1 Fan

F-C, it would seem to me that BMW, having found a buyer and already having the new team seek inclusion in the Championship, it would be two steps ahead of Toyota. Mario Thiessen was quoted the day before Toyota withdrew that that was what BMW needed.

BridgestoneMichelin-agreed in that it produced some unknown variables during a race. The most drastic example being when the Michelin teams pulled out of the USGP in 2005 leaving 3 teams, Ferrari, Jordan and ? to race all by themselves. Talk about fucked up.

Chief F1 Fan

NO and they spent more money than just about everyone at one point.

The Dougler

iTrader: (1)

Global economy or a easy way to tell Bernie to go eff himself?

Black Tire

Toyota is the biggest manufacterer in the world with the deepest pockets. If they cannot afford to stay in F1, I can't imagine how the other makers can stay in there.

F-C

The problem for Sauber is that they (meaning BMW-Sauber) never signed up to race in 2010 as one of the 14 teams. Toyota holds one of the 14 spots. If Toyota sells their team, the entry would theoretically transfer to the new owners as it is part of the asset of the team. I think the FIA needs to set a date for Toyota to find a buyer. It was incredibly stupid of Qadbak to buy Sauber without any guarantees that they have a spot on the grid next year, unless they have an out clause in their contract with BMW.

Edward'TLS

This was solely the end result of capping the maximum hours of on-track testing for each F1 team. With testing hours spreading so thin between the 19 race venues, it was not surprising that a tire manufacturer would screw up when there was insufficient tire/track data to collect.

Edward'TLS

Break it up into chassis manufacturers and engine manufacturers, like in the good old days. It is a big undertaking to be both at the same time. Ferrari is the only exception and has been doing both for as long as F1 exists.