Formula One news

Toyota monitoring F1 costs closely

A Toyota team chief has stressed that more work must go into lowering the running costs of Formula One. With manufacturer teams provided with budgets by parent companies, two have already pulled out of the sport recently within the space of just over half a year.

With Honda announcing its exit with immediate effect in December and BMW having stated in July that it will no longer be part of F1 next season, manufacturer teams remain under pressure to keep running costs down amid the global financial crisis.

Tadashi Yamashina, Toyota F1 Team Principal

"We need to turn it into an F1 where you don't need so much money," Toyota team head Tadashi Yamashina is quoted by the Japanese Yomiuri newspaper as saying in Tokyo on Tuesday. "We'll have to consider various issues while bearing in mind our ties with the main company."

However, with Toyota running an estimated Formula One budget of £190m per season, it and other teams denied an FIA budget cap of €45m / £40m earlier in the year. F1 spending is now hoped to be reduced to early 1990s levels, although the Toyota parent company suffered a blow this week by having to recall a record 3.8 million vehicles in the United States.

more news

• 29 Nov.
  • Piquet: Campos drive would suit team
  • Massa and Schumacher triumph in karting race
  • Schumacher wins Saturday Challenge of the Stars
• 28 Nov.
  • Lola ready to enter Formula 1
  • Raikkonen close to Citroen WRC deal
  • Tung looking for 'useful' test
• 27 Nov.
  • Montreal seals Formula One contract
  • GPUpdate TV: Domenicali - high hopes for 2010
  • Jerez test: The cast
  • Wurz plays down USF1 link
  • Renault to test Baguette, Tung and Di Grassi
  • Alonso makes second visit to Ferrari
  • Force India confirms Sutil and Liuzzi
  • All new teams now FOTA members
  • Sauber buys team back from BMW
  • De la Rosa pushing for race drive
  • Ecclestone: I won't buy Donington
  • Haug becomes part of F1 in Schools
  • Volkswagen to provide F1 engines?
• 26 Nov.
  • Alguersuari: 2010 contract is signed
  • Conway and Ericsson to test for Mercedes
  • 4 driver options left for Lotus
  • 'F1 in need of Schumacher return' - Verstappen
• 25 Nov.
  • 'Fantastic opportunity' - Di Resta on Force India test
  • Recap: N.Technology court bid fails
  • BMW testers excited about Jerez
  • Brawn disappointed with Button drives, ponders Lauda
  • Piquet to drive in Massa kart race
  • Brawn aero chief wins award
  • Gillett disappointed with government position
  • Mercedes hopes to confirm line-up by Christmas
• 24 Nov.
  • Briatore verdict expected in January
  • Donington still hopeful over F1 race
  • Montreal race confirmation imminent
  • Massa names drivers for karting event
  • Campos car passes FIA safety tests
  • Strong test could seal drive, says Mallya
  • Force India to test di Resta and Hildebrand
  • Courts to hear Briatore case
  • Silverstone GP deal forthcoming

Homepage