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Wednesday, 24 December 2008 |
Toyota to continue in Formula One despite economic crisis
 Toyota say they intend carrying on their Formula One racing team in spite of the worldwide economic crisis and a forecast of an annual loss of £1.1bn.
After Honda announced they would be quitting Formula One there were worries that Toyota would do likewise, however, Toyota Motor Corporation president Katsuaki Watanabe confirmed that would continue despite the gloomy forecast and cash problems.
Toyota, who began racing in Formula One in 2002, have no intention of doing as the other Japanese teams Honda, Subaru and Suzuki have done by leaving the motorsport.
Honda pulled out from Formula One on 5 December because of the financial situation, and then just last week Subaru and Suzuki withdrew from the World Rally Championships giving the same reason for doing so.
Toyota, however, will be carrying on although they need to find ways of cutting costs.
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Last Updated ( Wednesday, 31 December 2008 )
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Motor Sports 
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