Formula 1 Quitter – Toyota
Toyota has formally announced its decision to quit the prestigious Formula 1 race due to “current [and] severe economic realities.”. Toyota, one of the best Japanese cars out there has certainly made a correct choice. Though this will disappoint some of the Toyota Formula 1 fans, the company’s survival is of utmost importance.
“The experience provided an opportunity to develop both human resources and its research and development operations. Toyota expresses its deepest appreciation to its F1 fans and others for their warm support.”, a statement on the official Formula One Web site said.
The Formula 1 is not just a prestigious race but it also used by the various car manufacturing companies as a venue to advertise their cars and a way to do research and development. Toyota is no upstart company and can do well without this luxury so their withdrawal from the race would never be a setback to them but is most certainly an advantage.