January 8, 2003: The TF103, Toyota's Second-Year F1 Car, debuts at Paul Ricard

Rather than being a product of revolutionary design, the TF103 was more of a logical evolution in the previous season's TF102. Lighter and with more downforce than the TF102, the TF103 featured superior aerodynamics compared to any of its progenitors - the fruits of the Gustav Brunner-led design group and Keizo Takahashi, who was in charge of technical coordination.

The team had already started testing the 2003 spec engine and new seven-speed gearbox of the TF102B during September 2002, collecting much valuable data. The new RVX-03 V10 engine was lighter than the RVX-02 of the previous year, while demonstrating significantly more power. This new engine was designed and built by Luca Marmorini and his technical team.

While Tsutomu Tomita continued his role as chairman of TMG, Ove Andersson was promoted to vice-chairman as an aid to Mr. Tomita, and to be a full-time representative of Panasonic Toyota Racing team. John Howett, an Englishman, was selected as TMG president to replace Mr. Andersson.

Meanwhile, the driver lineup was changed as well. Olivier Panisand CristianodaMattasigned on to sit in the cockpit for Panasonic Toyota Racing forthe 2003 season.

During this season, Panasonic Toyota Racing secured 16 points, and finished eighth in the constructor's championship.