Fears Over Toyota’s F1 Future

Toyota’s future in F1 is not guaranteed after it emerged that their 2010 budget has not been agreed with the team’s Japanese parent car company.

Toyota’s F1 boss John Howett has stated that the budget had been submitted but they were not expecting a decision until later this year.

Toyota have signed up to the Concorde Agreement which theoretically commits them to F1 until the end of 2012.

Said Howett: ‘I am honestly expecting severe pressure on budget. We have submitted the budget and because of the economic situation, the Toyota group wants to wait for the full half year of the current financial year before signing it off.’

Toyota has previously scaled back its F1 operations by passing up on its right to host the 2010 Japanese Grand Prix at the Fuji track which the company owns.

Instead the 2010 and 2011 races – along with this year’s event – will be held at the Honda-owned Suzuka circuit

Concerns over Toyota’s future in the sport come against the backdrop of fellow car manufacturers BMW and Honda pulling out of F1.

BMW announced in July that they would quit F1 at the end of this season, the German car giants citing ‘current developments in motorsport’.

Honda pulled out of F1 in December 2008, the team blaming the world recession for the decision.