Melbourne, Australia newspaper The Age has a story on the break-even point for automakers in Formula One. The numbers are based on research done by Formula Money, a company devoted to detailing the financial goings-on in F1 – however, they don't make much sense at first glance. According to The Age, F1's manufacturer-backed teams "Ferrari, Mercedes-Benz, BMW, Renault and Toyota spent €608 million ($970 million) on Formula One racing" last year. To recoup that total investment they nee
Toyota has reiterated its commitment to F1, in spite of its first annual operating loss since 1938. Said Toyota CEO Katsuake Watanabe of Toyota's F1 budget, still the largest in F1 at $445 million, "To keep it up at the current level is extremely difficult." Yet even with the loss, the global economic mess, the belt-tightening on the corporate side, and the fact that Toyota hasn't won a race in seven years, a Toyota spokesperson said, "We don't have anything to add to the statement we made on 5
- Our favorite reveals from the LA Auto Show
- You can probably get a great deal on a new Fiat
- 2016 Holiday Gift Guide
- Is it time to buy a Pontiac Aztek?
- Fastest-depreciating cars in the United States
- Most and least efficient car companies