"We have a positive outlook and are determined to get our first win this season," Toyota Motor Corp. senior managing director Tadashi Yamashina was quoted saying in earlier reports.
Yamashina was speaking at a press conference in Tokyo just days ahead of the start of this year's F1 series.
Toyota is using a new race car, designed by 25-year old Atsushi Narita, which runs with a fresh chassis aimed at boosting the vehicle's overall aerodynamics.
The TF109 will be driven by veteran driver Jarno Trulli and second-year member Timo Glock with third driver Kamui Kobayashi.
It was earlier reported that Toyota mulled doing a Honda by pulling out of F1 but the carmaker opted to stay in the races after getting support from Panasonic.
Toyota's continued presence in F1 is expected to help boost the Japanese carmaker's sales amid a slowing global economy, Yamashina said.
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