Toyota’s exit from Formula One means that the sport is left with just three car manufacturers for 2010; McLaren (via Mercedes), Ferrari and Renault.

The Japanese marque has explained that ‘severe economic realities’ have forced the move, which sees it join Honda and BMW on the sidelines.

With teams having, in hindsight foolishly, refused an FIA budget cap earlier in the year, three of the opposing forces have now left F1 for financial reasons; with Honda having been the first to bow out last December, BMW followed suit in July with Toyota now confirming that no Japanese manufacturer remains on the grid.
"When considering TMC’s [Toyota Motor Company] motorsports activities next year and beyond, from a comprehensive mid-term viewpoint reflecting the current severe economic realities, TMC decided to withdraw from F1," Toyota’s Wednesday statement read.

"It views its time in F1 – in which teams put forth their best efforts to fiercely compete at racing’s highest level – as an irreplaceable experience that provided an opportunity to develop both human resources and its R&D operations. TMC expresses its deepest appreciation to its F1 fans and others for their warm support."

The official press release went on to thank all Toyota Racing drivers since 2002 as well as employees of the team.

The following two tabs change content below.

Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.