Toyota will remain in NASCAR
Toyota Motor Corp., the world's largest automaker, plans to keep racing on the NASCAR and Formula One circuits, even as demand for cars plummets worldwide.
The company will participate in the two racing series despite being financially restricted by severe business conditions, it said in an e-mailed statement this morning.
Toyota is forecasting its first loss in 59 years as the global recession hammers demand for automobiles and the company seeks loans from the Japanese government.
Automakers, including Honda Motor Co. and Fuji Heavy Industries Ltd., have pulled out of auto racing and off-road rallies to cut costs amid the worst economic crisis since the Great Depression.
-- Bloomberg News
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Reader Reactions
It’s interesting that Toyota has decided to keep racing, even as they ask the Japanese government for loans. They must have decided that racing is a key part of their marketing strategy. That speaks well for racing.
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