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Wednesday, November 04, 2009
Toyota Pulls Out of F1
By Darryl R. Isherwood
FOXBusiness
Citing severe economic conditions, Toyota Motor Corp. (TM) announced Wednesday it would pull out of Formula One racing at the end of the 2009 season.
The company is struggling with losses after the U.S. auto market collapsed, and is expected to announce a third quarter net loss Thursday.
According to a release, Toyota’s F! racing team compiled 13 podium and 87 point finishes over eight seasons since 2002.
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