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    Tuesday, November 03, 2009

    Toyota Motor To Quit F1 Racing After 2010 Season

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    By Chris Oliver
    MarketWatch Pulse
       

      HONG KONG - 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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