TOKYO, Nov. 3, 2009 (Kyodo News International) -- Toyota Motor Corp. (NYSE:TM) will withdraw from Formula One at the end of the current season, joining a number of other Japanese automakers leaving major motor racing events due to the tough business environment, sources close to the matter said Wednesday.
Japan's second-largest automaker, Honda Motor Co. (NYSE:HMC) , exited the F1 at the end of the 2008 season after carmakers were hard-hit by the global slump in auto demand.
