Kolles expects performance boost in 2011

HRT boss Colin Kolles is confident his team can up its performance for the start of the 2011 season, even though it is still unclear who is developing its new chassis

Sauber to pair known driver with rookie

Sauber's 2010 driver lineup may feature a veteran alongside an inexperienced youngster...  

Toyota 'to quit Formula One'

• Toyota president Akio Toyoda confirms team withdrawing• Previous commitment to F1 could raise legal issuesThe financial crisis facing Formula One deepened today after Toyota confirmed it is to withdraw from the sport in an attempt to cut costs.Toyota president Akio Toyoda said at a news conference that the company wants to focus on its core business. The world's largest car manufacturer posted its worst ever loss in the financial year ended March, and is expecting the losses to continue this fiscal year.Toyoda said: "Based on the current economic environment, we realise we have no choice but to withdraw. This has been a very painful decision for the company."The Japanese team has not won a Grand Prix since its debut in 2002 and finished a disappointing fifth in the constructors' championship this season.They follow Honda as the second major Japanese automaker to withdraw from F1, leaving the sport without a single Japanese automaker. It also further damages the sport's prestige as carmakers worldwide struggle to cope with the fallout from the financial crisis.Honda, Japan's second biggest carmaker, shocked F1 when it announced its withdrawal last December. Its Super Aguri team was taken over by Brawn GP, which went on to win the constructors' title in the current season, which ended in Abu Dhabi on Sunday.Toyota's absence next season leaves the sport with just three manufacturers - Ferrari, Mercedes and Renault - and allows BMW Sauber to take its place as the 13th team on the grid.The world's biggest carmaker is expected on Thursday to report an operating loss for the six months to September.The carmaker, which two years ago was celebrating record profits of 1.7 trillion yen, last year suffered its first annual loss - of 461 billion yen - for more than 60 years. This year's losses are forecast to rise to 750 billion yen.Toyota has not won a single race since entering F1 in 2002 and finished fifth out of 10 in this year's constructors' standings. Its drivers, Jarno Trulli and Timo Glock, finished eighth and 10th in the drivers' championship.The team has not signed any drivers for the 2010 season, and last month announced the end of its engine supply contract with Williams.Toyota's lack of success on the track comes despite annual investment of about US$300 million a year.Its pullout could be subject to legal costs as the firm had committed itself to F1 until at least 2012.Motor sport has been hit by an exodus of Japanese companies over the past year. Earlier this week the tyre maker Bridgestone announced it would pull out of F1 at the end of the 2010 season after 13 years in the sport.Bridgestone was appointed F1's official tyre supplier ahead of the 2008 season on a three-year deal but decided not to renew its contract and instead divert its resources elsewhere.In July, the Fuji Speedway circuit, which is owned by Toyota, said it would not host next season's Japanese grand prix because of the global economic downturn.Suzuki and Subaru withdrew from the world rally championship and Kawasaki scrapped its MotoGP team.Formula OneToyotaJustin McCurryguardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds

Booth hints at imminent di Grassi deal

John Booth has hinted strongly that Lucas di Grassi is set to secure the second race seat with Manor Grand Prix...  

Booth hints di Grassi to secure second Manor seat

Nov.27 (GMM) Boss John Booth has hinted strongly that Lucas di Grassi is set to secure the second 2010 race seat with the new formula one team Manor.

Button and car were always one step ahead

Jenson Button was still repeating his "I'm the world champion!" mantra in the early hours of yesterday morning, as the dawn's early light filtered across the skyline of Sao Paulo, the frantic city whose Interlagos race track has, by one of those tricks of coincidence, for the past two seasons yielded the world championship crown to the fifth-placed driver of car No 22.