Toyota’s Formula One exit won’t signal a dramatic change in road car strategy for the firm, according to a senior company source.
The firm pulled out of the sport earlier today to cut costs, but a source told Autocar that it would be business as usual at the Japanese firm under new president Akio Toyoda.
“We entered F1 when we weren’t as big as we are now,” said the source. “It was about making a statement to the world about who we are and what we were about and you could argue either way whether we’ve achieved that.”
Under new president Toyoda, the firm wants to return to making exciting road cars, which is seen with the new Toyota FT-86 and Lexus LFA models.
When Honda pulled out of the sport last year, the firm made it clear that the money saved would be reinvested into road car development, specifically the development of green models. The source said, however, that this wouldn’t necessarily be the case with Toyota.