After spending nine years and over $2.4 billion dollars without a single race victory, Toyota has officially dropped out of Formula One. As you can see from the photo, Toyota Motorsport Chairman Tadashi Yamashina was quite broken up about it.

Of course, this means there's no longer a Japanese manufacturer in Formula One with Honda gone and no carmaker from the Land of the Rising Sun in a position to throw that much money away. [AutoNews]