Toyota 'had doubts' about its F1 future

The Japanese car giant posted its first ever operating loss in December last year, just weeks after arch-rival Honda announced its departure from grand prix racing.

Toyota rapidly quelled consequent speculation about its F1 future by affirming its commitment to the sport. But Yamashina has now admitted that a pull-out had been seriously considered.

"I stressed again and again in the company's executive board meetings there was no way we should pull out, although we have to drastically cut our costs," he told Japanese newspaper the Daily Yomiuri.

"Obviously our negative business reports did cause some doubt."

He said major sponsor Panasonic's continued commitment had been crucial to keeping Toyota in F1.

"So I was extremely happy that Panasonic decided to renew its contract with us even though they also had some financial trouble," said Yamashina. "Their understanding of what we are doing allowed us to keep racing."

He also remains convinced that F1 provides good value for Toyota.

"We have competed in the F1 circuit over the past seven years, which I believe has helped to invigorate our company and contributed to the sales of our products," said Yamashina.

The team boss is confident that Toyota is set for a major step forward this season, its car having impressed so far in winter testing.

"We must win," Yamashina said. "I'm sure of our team's potential to win a GP title after watching the final test on Thursday. Our team is definitely better than that of last year."