After posting its largest ever financial loss, the world’s largest car manufacturer will now concentrate on its resources to turnaround the performance of its core business. Toyota president Akio Toyoda said the Japanese team had no option but to withdraw from F1 citing “the current severe economic realities” which had hit Toyota’s businesses hard.

Formula 1 was reputed to be costing Toyota €15.8m per grand prix, which is a lot of money in anyone’s book.

After taking part in 139 F1 races the team failed to win, but managed to achieve fifth place in the 2009 constructors’ championship. After 7 years enough was enough, which will come as a great disappointment for Kamui Kobayashi who was all set to land a full-time drive for Toyota after impressing in the final two races of the season.

Toyota join Honda who withdrew from F1 at the end of last season, and BMW who also made 2009 their last season but this could represent good news for Sauber who received support from after Swiss-based Qadbak Investments following BMW’s withdrawal in July. At the time the FIA offered Sauber the ‘first reserve’ position for the 2010 season, so this news should add an end-of-season cheer to the folks in Hinwil.

Toyota’s withdrawal from F1 marks a period of change for Japanese companies in motorsport – Subaru and Suzuki exited the world rally Championship in 2008 and Kawasaki from Moto GP, then with Honda and now Toyota we may be witnessing a turnaround in the ‘perceived sportiness’ of these Japanese brands.

BMW Motorsport Director Mario Theissen said: “Robert played an important role for us – and certainly we did the same for him. He joined us in 2006 as a test driver with no Formula One experience, and then we promoted him to be one of our team’s drivers during that season. He never let us down and, with our first pole position in 2008 in Bahrain and first victory the same year in Canada, he set milestones in the history of our team. We are grateful for his strong and constant performances and wish him all the best for his future.”

Kubica himself commented: “I’m very thankful to those responsible in the BMW Sauber F1 Team for giving me the chance to get a Formula One cockpit. I think I justified the belief in me by delivering good results. In 2008 I managed to get the first pole position in Bahrain and the first win in Canada. Both will remain unforgettable moments for me. For 2010 I will have a new challenge. I wish everybody I worked with at the BMW Sauber F1 Team all the best for the future. I’m sure in the future our paths will cross in Formula One.”

Kubica drove his first Formula One race on the 6th August 2006 in Budapest. He competed in 55 Grand Prix for the BMW Sauber F1 Team, during which he achieved eight podium finishes and collected 129 championship points.

The team that will succeed the current BMW Sauber F1 Team will announce its driver line-up at a later stage.

It remains to be confirmed whether Kubica will replace Romain Grosjean for the remaining few races in 2009. Grosjean who replaced Nelson Piquet Jr is currently Renault’s second driver, but his position has yet to be confirmed for next year. He has been even less successful than the beleaguered Piquet, so it remains to be seen whether he will continue to drive for the team if the Grand Prix winning Pole is now available.