Toyota's Cost-Cutting May Claim 2010 Japanese Grand Prix
Yesterday Toyota announced that due to financial reasons it will not be able to host the 2010 Japanese Grand Prix, a move which could jeopardize a visit by Formula 1 to Japan next year.
The race was scheduled to be run at Fuji Speedway, which is owned by Toyota but given the current economic climate the $20 to $30 million cost of running the event became prohibitive.
Fuji Speedway president Hiroaki Kato described the decision not to host the 2010 F1 race as both “heartbreaking,” and “extremely difficult.”
Toyota hosted the Japanese Grand Prix in 2007 and 2008, while for decades before Honda played host at its Suzuka Circuit. Suzuka has been chosen for the venue to run the 2009 race, but Honda has not immediately come forward to host the 2010 event.
Despite the cost-cutting measures Toyota has made no move to sell-off or eliminate it’s hugely expensive and widely unsuccessful Formula 1 team.
[Source: AFP]
[Photo credit: F1-site.com]
With AutoGuide from its launch, Colum previously acted as Editor-in-Chief of Modified Luxury & Exotics magazine where he became a certifiable car snob driving supercars like the Koenigsegg CCX and racing down the autobahn in anything over 500 hp. He has won numerous automotive journalism awards including the Best Video Journalism Award in 2014 and 2015 from the Automotive Journalists Association of Canada (AJAC). Colum founded Geared Content Studios, VerticalScope's in-house branded content division and works to find ways to integrate brands organically into content.
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