Toyota has declared itself resolutely committed to continuing in formula one despite what promises to be its first operating loss for 70 years as the depression in the global car industry worsens."We have absolutely no plans to withdraw from formula one," a spokeswoman, Yoshie Matsuura, told the Guardian. Matsuura said Toyota had embarked on a major cost-cutting study but could not specify what measures were under consideration. "We know that [F1] is very expensive and that cost-cutting is the key to survival," she said.
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