Just days after tyre manufacturer Bridgestone pulled the plug on Formula 1, Toyota has announced that they too will be leaving the sport for good. With Honda’s shock departure last year, this means that the Formula One circus is now running without a single Japanese automaker in its midst. Adding to the overall controversy of what has been a truly scandalous year for the world’s premier motorsport, Toyota attributes its F1 withdrawal to the severe economic conditions and – despite a massive budget – a relatively poor professional performance since their debut back in 2002. Akio Toyoda, the president of Toyota, told the press that “This was a difficult but inevitable decision. Since last year with the worsening economic climate, we have been wrestling with the question of whether to press on in Formula One. Now we are exiting Formula One completely. I apologise to Toyota’s many fans for not being able to achieve the results we had intended to achieve.” Following Toyota’s announcement, Renault has also started to muse about their future in F1 and arealso considering pulling out. Watch this space as the saga develops…

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