Toyota Backs Out of Sports Car Project

Toyota Motors seems to be following the lead of Suzuki which pulled out of the World Rally Championships and Honda which abandoned Formula One racing.

For now, Toyota which is working in cahoots with Fuji Heavy Industries, will delay production and launch of a compact sports car.

Manufacturing of the car was planned for 2011, but has now been postponed until at least 2012.

Fuji Heavy manufactures Subaru and Toyota has an 16.5% stake.

The car – a compact, front-engine, rear-wheel drive was at the heat of cooperation for Toyota Motors and Fuji Heavy.

Gunma prefecture residents will be bummed to know that a new factory capable of rolling out 100-150K vehicles will not be built…yet.