It was a Toyota that carried the Number 1 badge of reigning champion Hoy in 1992, following a switch from BMW. The Rouse built Carina Excecutive was very much the class of the field for much of the season until the new BMW 318iS began their charge from the back, but it often looked as if Hoy had used up all his luck the previous season. An electrical problem in round 3 at Oulton Park lost Hoy the lead to team-mate Rouse on two occaisons. Then for round 5 at Brands Hatch, the simmering rivalry in the Toyota camp came to a head when Rouse made an optimistic move on Hoy, who shut-the-door assuming that Rouse would not try to pass. Both drivers ended up in the barriers with badly damaged cars as a result.

The two cars were re-built for the next round, with both drivers reporting that team bosses were less than happy. The incident did not appear to affect Hoy's performance, and he returned to his winning ways the very next round. At the final race of the year, Hoy was one of three drivers in with a chance of the title and all three had a reasonable chance of winning. In the end the results were decided by the infamous Soper/Cleland incident, leaving Hoy to follow champion Harvey across the line giving him the runner up slot.

Hoy stayed with Toyota for 1993, the team now being run by their long-term motorsport partner, TOM's. Swtiching to the new Carina E model meant a learning year for all concerned and Hoy's performance suffered as a result. With only 4 podium finishes and no wins, Hoy ended up 7th overall, 2 positions behind new team-mate Julian Bailey. Hoy also suffered from some deja-vue at the GP round at Silverstone, when Bailey dived down the inside of him at Bridge corner, clipping the back of Hoy's car and putting it on its roof. Another repremand from Toyota bosses followed.

Toyota again for 1994, but a very poor year puts Hoy further down the final results table in 13 place. No podium finishes and a high number of non-scoring finishes contributing to the poor results.

Hoy switched to rapidly improving Renault squad for 1995, the same season that saw Williams GP join Renault. A late start to the project meant some teathing problems, but by the second half of the season the team were the class of the field. Hoy took 3 wins and 3 second places, giving him 4th in the drivers championship and a string of 1-2 finshes with team-mate Menu also secured Renault the manufacturers title. Hoy started 1996 in the best way possible, by following the dominant Frank Biela home in the first two races. Then came a series of reliability problems and incidents from which Hoy never managed to recover. A 3rd and a couple of 4th positions was all he could gather from the remainder of season, leaving him 9th overall.