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Toyota will move into NASCAR's Nextel Cup and Busch Series beginning in 2007, becoming the first foreign manufacturer to compete in the top racing series since Jaguar in the 1950's. The announcement is expected Monday in a news conference at NASCAR in Concord, N.C., according to a person with knowledge of the announcement who was granted anonymity because he was not authorized to discuss it. Toyota will join the American brands Ford, Chevrolet and Dodge in the top two levels of competition. Toyota has competed in the NASCAR Craftsman Truck Series since 2004, ending a long-held rule by NASCAR that only American-based manufacturers could compete in its events. Toyota has paid to align itself with elite teams and drivers in the Truck series. There has been widespread speculation that Honda will follow Toyota into NASCAR.(New York Times)(
