In a move that comes as a surprise if not a shock, Toyota have announced that they will not be returning to the F1 grid for the 2010 season.
After posting its largest ever financial loss, the world’s largest car manufacturer will now concentrate on its resources to turnaround the performance of its core business. Toyota president Akio Toyoda said the Japanese team had no option but to withdraw from F1 citing “the current severe economic realities” which had hit Toyota’s businesses hard.
Formula 1 was reputed to be costing Toyota €15.8m per grand prix, which is a lot of money in anyone’s book.
After taking part in 139 F1 races the team failed to win, but managed to achieve fifth place in the 2009 constructors’ championship. After 7 years enough was enough, which will come as a great disappointment for Kamui Kobayashi who was all set to land a full-time drive for Toyota after impressing in the final two races of the season.
Toyota join Honda who withdrew from F1 at the end of last season, and BMW who also made 2009 their last season but this could represent good news for Sauber who received support from after Swiss-based Qadbak Investments following BMW’s withdrawal in July. At the time the FIA offered Sauber the ‘first reserve’ position for the 2010 season, so this news should add an end-of-season cheer to the folks in Hinwil.
Toyota’s withdrawal from F1 marks a period of change for Japanese companies in motorsport – Subaru and Suzuki exited the world rally Championship in 2008 and Kawasaki from Moto GP, then with Honda and now Toyota we may be witnessing a turnaround in the ‘perceived sportiness’ of these Japanese brands.
Written By
Steve Davies
Steve is an investor, private equity advisor and former Partner at KPMG, PwC and Bain. Most importantly he's a life-long car enthusiast, mountain biker and active sports enthusiast. He designs and builds technology platforms and is the architect behind Transmission.
Try These Next
Stories we think you'll enjoy
5 Comments
Add comment Cancel reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
But they decide to make the LFA for no reason though…fvck! Ugh I knew this was gonna happen, I was so impressed by Kobiashi’s performance. Looks like Sauber is back in the mix then. Well this should make the next season very (un)interesting
I agree, Kobayashi was making a few enemies in his first few F1 races but that’s exactly what I’d like to see – a young driver who’s undaunted by the more established drivers and is quick enough to run at the front.
I do hope he finds another team (perhaps one of the new teams) to drive for in 2010.
As for Toyota, they’ve had a shocking track record of picking drivers (such as Trulli) who are never likely to be world champions and therefore have always lacked someone in the team with proven success.
It never ceases to amaze me how the little success has to do with money – it would be fascinating to compare Brawn GP’s budget with Toyota and then show the comparative return on investment…
But they decide to make the LFA for no reason though…fvck! Ugh I knew this was gonna happen, I was so impressed by Kobiashi’s performance. Looks like Sauber is back in the mix then. Well this should make the next season very (un)interesting
I agree, Kobayashi was making a few enemies in his first few F1 races but that’s exactly what I’d like to see – a young driver who’s undaunted by the more established drivers and is quick enough to run at the front.
I do hope he finds another team (perhaps one of the new teams) to drive for in 2010.
As for Toyota, they’ve had a shocking track record of picking drivers (such as Trulli) who are never likely to be world champions and therefore have always lacked someone in the team with proven success.
It never ceases to amaze me how the little success has to do with money – it would be fascinating to compare Brawn GP’s budget with Toyota and then show the comparative return on investment…