Citing that Formula One racing is out of touch with its customer base, Toyota Motor Corp. confirmed that it will not be returning to the sport.
Last weekend, Senior Managing Director Tadashi Yamashina, the head of Toyota’s global racing program, said that its priority is grass-roots racing, which leads to a closer connection with the fans. This includes events such as NASCAR in the US and the Nurburgring 24-hour endurance race in Germany. Yamashina revealed that this change in thinking was started by Akio Toyoda who took over as president last June.
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