Giuseppe F1
22nd December 2008, 11:07
First loss expected since 1941!
Im fearful that like Honda F1 and even though the Toyota F1 team has reaffirmed its commitment to F1, the decision may be taken out of their hands as Toyota Japan may need to be seen as making cutbacks.
Slightly different to Honda F1 as the Toyota team has a strong portfolio of sponsors however there has been talk in recent weeks that they may cease their Toyota Drivers Program (support for young drivers) which even puts the Red Bull Junior Team to shame for in both Europe and Japan, Toyota support around 30 young drivers up the ladder and this all costs. The fact Toyota has tested TDP juniors Henki Waldschmidt and Caldarelli in recent days is seen by some as a last hurrah to the junior program before it is terminated - lets see what happens when Toyota HQ make the announcment to the world later today:
http://www.pitpass.com/fes_php/pitpass_news_item.php?fes_art_id=36770
All eyes on Japan as Toyota predicts historic loss
22/12/2008
Japanese giant Toyota is expected to announce that due to the rising value of the yen, combined with the global lack of demand for new cars, it is facing the prospect of making a loss for the first time since 1941.
When the figures are announced later today, it is widely predicted that they will lead to further devastating falls on the Japanese stock market as the nation's exports fall by 26.7% in one year.
Toyota president Katsuaki Watanabe says the company expects to sell 8.96 million vehicles in total this year, down 4% from the previous year.
"The change that has hit the world economy is of a critical scale that comes once in a hundred years," he said.
Ever since Honda announced its withdrawal from the Formula One World Championship, there has been speculation as to who might be next. Though the Toyota F1 team has reaffirmed its commitment to the sport, such a decision may well be taken out of its hands, especially with the financial predictions for 2009 looking so gloomy.
Im fearful that like Honda F1 and even though the Toyota F1 team has reaffirmed its commitment to F1, the decision may be taken out of their hands as Toyota Japan may need to be seen as making cutbacks.
Slightly different to Honda F1 as the Toyota team has a strong portfolio of sponsors however there has been talk in recent weeks that they may cease their Toyota Drivers Program (support for young drivers) which even puts the Red Bull Junior Team to shame for in both Europe and Japan, Toyota support around 30 young drivers up the ladder and this all costs. The fact Toyota has tested TDP juniors Henki Waldschmidt and Caldarelli in recent days is seen by some as a last hurrah to the junior program before it is terminated - lets see what happens when Toyota HQ make the announcment to the world later today:
http://www.pitpass.com/fes_php/pitpass_news_item.php?fes_art_id=36770
All eyes on Japan as Toyota predicts historic loss
22/12/2008
Japanese giant Toyota is expected to announce that due to the rising value of the yen, combined with the global lack of demand for new cars, it is facing the prospect of making a loss for the first time since 1941.
When the figures are announced later today, it is widely predicted that they will lead to further devastating falls on the Japanese stock market as the nation's exports fall by 26.7% in one year.
Toyota president Katsuaki Watanabe says the company expects to sell 8.96 million vehicles in total this year, down 4% from the previous year.
"The change that has hit the world economy is of a critical scale that comes once in a hundred years," he said.
Ever since Honda announced its withdrawal from the Formula One World Championship, there has been speculation as to who might be next. Though the Toyota F1 team has reaffirmed its commitment to the sport, such a decision may well be taken out of its hands, especially with the financial predictions for 2009 looking so gloomy.