
“This was a difficult but ultimately unavoidable decision.Since last year with the worsening economic climate, we have been struggling with the question of whether to continue in F1.We are pulling out of Formula One completely. I offer my deepest apologies to Toyota’s many fans for not being able to achieve the results we had targeted.” said Toyota’s President Akio Toyoda. According to our sources, Toyota’s decision to pull out of the F1 Championship comes the auto industry starts to stabilize following a sales crunch.