The Formula One Teams Association (FOTA) has expressed its disappointment at Toyota's shock exit from Formula One, which was announced in Japan on Wednesday. Despite committing to the sport until 2012 by signing the Concorde Agreement, Toyota bosses blamed the harsh economic climate for forching the pull-out decision, joining Honda and BMW in F1's high-profile 2009 exodus.
“The Formula One Teams Association today expressed sadness at the unexpected decision by Toyota to withdraw from Formula One and be absent from the 2010 World Championship,” read a press statement from FOTA.
“Toyota has made a significant contribution to the success of Formula One for the past eight seasons, having recorded a number of podium finishes and other points-scoring results in that time.”
FOTA believes F1's public rows over the future of the sport in recent months had a part to play in Toyota's exit, but also acknowledged that the increasingly damaging global financial crisis was also a major factor.
“Regrettably, notwithstanding Toyota's commitment to compete until 2012 deriving from the signature of the Concorde Agreement, the particular financial pressures within the car manufacturing industry - together with a period of uncertainty and unnecessary confrontation in F1 that is now finally over - created conditions which have made it difficult for Toyota to stay in the sport at this time.
“We hope very much that Toyota will return to the world's most technologically-advanced racing competition in the not too distant future, but in the meantime every effort must be made by the sport's management to ensure that the 2010 season is as successful as we all hope.
However, FOTA stressed that despite the recent troubles endured by Formula One, there is still more teams entered for 2010 than for any season since 1995, when 13 teams started the year.
“These efforts should include ensuring that the 2010 grid remains fully subscribed - and we should remember that there are still more teams entered than in any year since 1995 - that our sport remains a focus for technological innovation and competitive racing. The departure of an important car manufacturer cannot be underestimated and its reasons need to be addressed.”
FOTA also praised Toyota's F1 team president John Howett for helping the teams negotiate a new Concorde agreement, in his capacity as vice chairman of the teams' association.
“All the FOTA Teams send sincere messages of goodwill to all at Toyota – staff, drivers and sponsors – and thank them for the positive contribution they have made to Formula One in recent years.
“FOTA also wishes to put on record its thanks to John Howett for his great passion and his fundamental contribution, in his role as Vice Chairman of FOTA, in helping negotiate the new Concorde Agreement, securing longer term stability in F1's rules and a more constructive, collaborative environment with all stakeholders.”