TOKYO (AFP) — Recession-hit Toyota Motor plans to pull out of hosting the 2010 Japanese Grand Prix, Japanese media said Wednesday -- a report that the world's biggest automaker refused to confirm or deny.

Toyota Motor Corp. refused to comment further on reports carried by the Mainichi Shimbun and other news outlets that it planned to ditch the prestigious Formula One race.

Hideyuki Nishikawa, a spokesman for the Fuji Speedway -- the race venue, which Toyota owns -- told AFP that various options were being considered but withheld further comment.

A Toyota spokeswoman told AFP: "We have heard that (Fuji Speedway) is making various considerations toward its hosting next year."

But she also refused to elaborate.

Toyota's race course in the foothills of Mount Fuji has been slated to host the 2010 Japanese Grand Prix as the 16th leg of the 18-round Formula One series.

Fuji Speedway hosted the event in 2007 and 2008, after a gap of 30 years. Honda's Suzuka Circuit is this year's host.

Toyota, hit hard by the global economic downturn and Japan's worst recession on record, suffered its first-ever annual loss for the fiscal year to March and has warned it faces another year in the red.

The Asahi Shimbun newspaper first reported in May that Toyota was reviewing hosting the 2010 race after workers had questioned whether the expense was justified at a time when the company is closing plants and slashing jobs.

Toyota denied that report

Excellent news if it means that the Jap GP will be permanently at Suzuka (probably the best circuit in the world!).

 

stigga:

The Asahi Shimbun newspaper first reported in May that Toyota was reviewing hosting the 2010 race after workers had questioned whether the expense was justified at a time when the company is closing plants and slashing jobs.

Toyota denied that report

That's fair enough.  We F1 fans tend to think only of our enjoyment of the racing, but when people are losing their jobs, there is another point of view to consider.

Shh not so loud.  Bernie and CVC wants their $$ and if they can not deliver there will be no Japanese GP and we will have another race in some country that is willing to line Bernie's pockets.  Fans?  Who needs those?

 

Now confirmed in AS,

"Fuji International Speedway has pulled the plug on hosting the Japanese Grand Prix in the future, track officials confirmed on Tuesday.

The circuit had been planning to share the event with Suzuka, having held the last two Japanese GPs, but the global economic downturn that has affected track owners Toyota has forced a rethink.

A statement on the circuit's website said that although planning had already been underway for the 2010 event, the track had no option but to abandon its plans.

"In view of the sharply deteriorating business conditions and few signs of a rapid economic recovery, we decided it would be extremely difficult to continue holding the F1 Japanese Grand Prix," said the statement".

 

I really like the Fuji circuit, but I don't think it was suited to F1 cars. That last chicane section used to bore the hell out of me. Hopefully Suzuka can hold it every year, as someone said above, it's definitely one of the best circuits in the world. But I read that they may not have the expenses to do it every year either. God I hope we don't end up with another desert race.

cormac_c:

I really like the Fuji circuit, but I don't think it was suited to F1 cars. That last chicane section used to bore the hell out of me. Hopefully Suzuka can hold it every year, as someone said above, it's definitely one of the best circuits in the world. But I read that they may not have the expenses to do it every year either. God I hope we don't end up with another desert race.

Like many I prefer Fuji, l do wonder though how many tracks will have to refuse to pay Bernie and CVC their seemingly extortionate fees before they get the message.

stigga:

cormac_c:

I really like the Fuji circuit, but I don't think it was suited to F1 cars. That last chicane section used to bore the hell out of me. Hopefully Suzuka can hold it every year, as someone said above, it's definitely one of the best circuits in the world. But I read that they may not have the expenses to do it every year either. God I hope we don't end up with another desert race.

Like many I prefer Fuji, l do wonder though how many tracks will have to refuse to pay Bernie and CVC their seemingly extortionate fees before they get the message.

Let's hope not many! I don't know how long I can watch a Formula 1 that doesn't go to traditional venues.

This is extemely worrying news. If Toyota cannot accept losses of £12-16 million hosting a grand prix what hope is there of them being in F1 next year, when they expect to anounce a loss of £5.5 billion to march 2010.

France, Canada, USA, Britain (almost) and now Japan?? What are we gonna be left with in a couple of years?

astms:

France, Canada, USA, Britain (almost) and now Japan?? What are we gonna be left with in a couple of years?

Sand. Only sand. 

cormac_c:

astms:

France, Canada, USA, Britain (almost) and now Japan?? What are we gonna be left with in a couple of years?

Sand. Only sand. 

 

A quick figure of eight round a sphinx and a roundy roundy with the lubyanka on the infield.

asanator:

Excellent news if it means that the Jap GP will be permanently at Suzuka (probably the best circuit in the world!).

I wouldn't count on it.  Suzuka is owned by Honda, the same people that pulled out of F1 at the end of last year if you recall?  I'm only surprised that they weren't the first to make such an announcement.  If Toyota pull out on commercial grounds I'd put money on Honda doing something very similar very shortly.