Toyota has moved to deny speculation that it is poised to follow BMW out of Formula 1 at the end of 2009.
Amid widespread suggestions that BMW's departure from the sport will be followed by another manufacturer imminently, rumors have revolved around Toyota. This has been prompted by the fact that Toyota has not yet signed the Concorde Agreement that would tie it to F1, and the team's F1 president John Howett is in Japan at the moment discussing strategy with the Japanese car manufacturer's chiefs. However, a spokesman for the Toyota Motor Corporation has dismissed any talk that Toyota is considering its future in F1, with its Concorde Agreement signature expected to be confirmed in the next few days.
"Through cost reduction we will continue our Formula 1 activities," said the spokesman. "Our situation remains unchanged."