Toyota Confirms F1 Departure

Japan’s last F1 team has left the sport (as of now). Toyota has pulled out of Formula 1 with immediate effect. The world’s largest carmaker blamed the recession and faltering car market for its decision. "Toyota Motor Corporation (TMC) announces it plans to withdraw from the FIA Formula 1 world championship 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 motorsports actitives next year and beyond from a comprehensive mid-term viewpoint reflecting the current severe economic realities...

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