Toyota Pulls Out of F1

It has long been rumored, now it's happening: Toyota is pulling out of Formula 1. The parent company announced that it was pulling out of the top level of racing due to the continuing financial crisis. Toyota now joins Honda and Bridgestone, in F1, and Suzuki in rallying last year, to leave top level motor sport because of the crisis. John Howett, the president of the F1 team, has told Autosport that the team itself will still be on the grid next year, however. It will be interesting to see how that happens.