Related News
Home » Sports » Motor Racing
Report: Toyota to pull out of Formual 1
Source: Agencies |
November 4, 2009, Wednesday
|
Online Edition
Online Edition
TOYOTA plans to pull out of Formula One racing, the Mainichi newspaper reported today.
Toyota would follow Honda as the second major Japanese automaker to withdraw from the sport. Honda pulled out in December last year, citing a slowdown in the global economy.
Toyota, the only Japanese automaker participating in F1 this year, is seeking to cut costs as it expects to post an operating loss for the six months ended Sept. 30. The company is due to report earnings Thursday.
A Toyota spokeswoman said today she was checking on reports in the Japanese media.
On Monday, Japanese tire manufacturer Bridgestone announced it would not renew its exclusive deal to supply tires for F1 when its contract expires in 2010.
Toyota would follow Honda as the second major Japanese automaker to withdraw from the sport. Honda pulled out in December last year, citing a slowdown in the global economy.
Toyota, the only Japanese automaker participating in F1 this year, is seeking to cut costs as it expects to post an operating loss for the six months ended Sept. 30. The company is due to report earnings Thursday.
A Toyota spokeswoman said today she was checking on reports in the Japanese media.
On Monday, Japanese tire manufacturer Bridgestone announced it would not renew its exclusive deal to supply tires for F1 when its contract expires in 2010.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
