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It is being speculated that Japan's Toyota Motor will withdraw from Formula 1.The major reason behind Toyota’s pull out is to slash costs to cope with the fallout from the global recession.
According to sources, Toyota’s Wednesday meeting would decide on company’s withdrawal from F1.President Akio Toyota is expected to make the announcement of pull out at a news conference in Tokyo.
The world's biggest carmaker refused to comment on the report. Toyota had made F1 debut in 2002. Toyota finished fifth this season in the constructors' championship.
Toyota’s withdrawal would mean there would be no Japanese automakers in the world's premier autosport.Toyota had also withdrawn in July from hosting the Japanese Grand Prix at its Fuji Speedway circuit.
