socialmedian: Toyota Motor to quit F1 racing after 2010 season

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Toyota Motor to quit F1 racing after 2010 season

Source: Wall Street Journal

Nov 04, 2009

Summary

HONG KONG (MarketWatch) - Toyota Motor Corp. is set to withdraw from its involvement in Formula One racing at the end of the 2010 season, in an effort to slash costs as it grapples with the global auto slump, according to a media reports Wednesday. The automaker will quit the
racing series because it believes it won't return to profitability for another year, Japanese broadcaster NHK reported Wednesday. Toyota's participation in the sport began in 2002. Toyota will also reportedly consider selling the its F1 racing team.

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