Toyota to leave F1, Renault to follow?
Toyota today announced that they would be withdrawing from Formula One effective immediately due to the “severe economic realities”.
In a statement today Toyota said
Tokyo—TOYOTA MOTOR CORPORATION (TMC) announces it 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.
TMC 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.
The FIA (Federation International Motorsport) have responded quickly to this statement demanding immediate clarification. Just weeks ago Toyota along with the other F1 teams signed an updated Concorde agreement committing themselves to the future of Formula one.
The FIA stated
The announcements this week by Toyota and Bridgestone of their withdrawal from Formula One are of concern to the FIA.
Bridgestone has given almost 18 months’ notice of its intentions, thereby allowing the necessary arrangements to be made for the future supply of tyres to the championship.
Toyota’s decision, however, comes just weeks after its F1 team signed the new Concorde Agreement until 2012. Urgent clarification is now being sought from the Toyota F1 team as to its legal position in relation to the championship. This will have a direct bearing on the admission of any future 13th entry.
The FIA has repeatedly warned that motor sport cannot outpace the world economic crisis. That is why the competing teams have been asked to cut costs and the entry of independent teams has been encouraged. The FIA accepted the cost-reduction measures put forward by the teams on the basis that they would ensure a long-term commitment to the championship. Toyota’s announcement demonstrates the importance of the original cost-reduction measures set out by the FIA.
The FIA will now work to ensure that Toyota’s departure is managed in the best interests of the championship and will continue to encourage the F1 teams to undertake the necessary cost-cutting measures for the good of the sport.
Toyota is the second 2009 Formula One team that will not take to the grid in 2010, BMW having previously announced their intention to quit earlier in the season. In other poorly timed news Renault are also considering quitting Formula One. Renault today held an emergency meeting to address the issue of their future in Formula One, it is reported that Bob Bell the Renualt F1 Team manager attended but was not able to take part in the debate of the team’s future, there has been no announcement from Renualt at the current time.






