Last update: Wed Nov 4 2009 13:49:33
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Toyota pull out of Formula One Championship

Wed Nov 4 2009 13:49:33

Jarno Trulli Toyota have confirmed they are pulling out of Formula One with immediate effect for financial reasons.

The announcement was made at a media conference in Tokyo by Toyota Motor Corporation president Akio Toyoda.

The world's largest car maker is now the third major manufacturer to withdraw from the championship in the space of 11 months after Honda and BMW.

Their departure continues the exodus of Japanese companies from motor sport as Subaru and Suzuki withdrew from the World Rally Championship prior to this season.

In motorbikes, Kawasaki pulled out of MotoGP and on Monday tyre manufacturer Bridgestone announced they will not be renewing their supply contract in F1 after next season.

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Japanese manufacturer Toyota has announced it is leaving Formula One.

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