Alert: Toyota may pull out of Formula One image

Toyota’s team boss, Tadashi Yamashina told the Yomiuri newspaper that the Japanese manufacturer might decide to pull out of Formula One.

Toyota F1 boss said that money, relating to the success of the parent company and also cost-cutting efforts within Formula One, are issues to consider.

“Our participation is unclear, depending on our financial results,” said Yamashina.

“We will participate for now,” he added. “We have to consider a variety of things in relation to our core business.”

Yamashina said the cost of competing in F1 is an issue.

“We need to turn it into an F1 where you don’t need so much money,” he said at a news conference in Tokyo.

Toyota’s team president John Howett has been at the forefront of the Formula One Teams’ Association efforts to cut costs, but the Briton was also one of the leading protagonists of the argument against FIA President Max Mosley’s budget cap.

After 14 out 17 races, Toyota reached the podium on three occasions, including Timo Glock’s second-place finish in Singapore last weekend. The team’s objective this season is to record its maiden F1 victory.

Jarno Trulli’s contract negotiations have apparently stalled due to the pending budget questions, and Glock was recently told he is free to look for opportunities elsewhere.

Source: GMM