Toyota - no plans to quit F1

Boss plays down fears of another withdrawal

Last updated: 15th January 2009   Subscribe to RSS Feed

Toyota - no plans to quit F1
Commercially this team has a very strong future. The key issue is whether Formula One continues to deliver the value and return on investment that Toyota expects.

John Howett
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Toyota F1 president John Howett is confident that the Japanese manufacturer will remain in Formula One for the foreseeable future.

The shock exit of Honda at the end of last year left many questioning whether F1's other big manufacturer outfits would remain in the sport given the current economic crisis.

Howett, however, has downplayed fears that Toyota may also opt to quit, saying that as long as the team continues to improve he foresees Toyota continuing.

"Commercially this team has a very strong future," said Howett. "The key issue is whether Formula One continues to deliver the value and return on investment that Toyota expects.

"If it remains the pinnacle of motorsport and a genuine technological challenge, then I can see a long and bright future for the team.

"If the sport is dumbed down too much, or too many standard components are forced into the system, Formula One could become just another racing series.

"That would leave it as only a sponsorship opportunity and I believe interest would drop rapidly.

"But FOTA (the Formula One Teams' Association) has achieved significant cost reductions while retaining the DNA of Formula One and this is extremely beneficial in the current economic climate."

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