Tokyo: A senior Toyota executive said that quitting Formula One racing was an option for the car maker, partly in view of the costs involved, Japanese media reported.
"We need to turn it into an F1 where you don't need so much money," Toyota team head Tadashi Yamashina told a news conference in Tokyo on Tuesday, according to the Yomiuri newspaper.
"We'll have to consider various issues while bearing in mind our ties with the main company," he said, referring to the team's owner, Toyota Motor Corp.
The Cologne-based Toyota team, who have yet to win a race since their debut in 2002 despite having an annual budget estimated at around $300 million last year, has signed up with the International Automobile Federation (FIA) to drive in the 2010 championship.
If Toyota leaves Formula One, it will follow the lead of rival Honda Motor which exited the sport by selling its racing team to management.
The renamed Brawn team has dramatically improved its form with its two drivers leading the 2009 Formula One standings, although a German auto magazine has reported it might end up three-quarters owned by Mercedes-Benz, a unit of Daimler AG.
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