Jan 18 - Former winners Peugeot will not enter this year's Le Mans 24 Hours race after announcing on Wednesday that they had pulled out of the new FIA world endurance championship for financial reasons.

"This decision has been taken in the context of a difficult economic environment in Europe," the French carmaker said in a statement on the company website. "Peugeot has chosen to concentrate resources on its sales performance in 2012."

Peugeot last won Le Mans in 2009, with their diesel cars finishing second, third, fourth and fifth behind the number two Audi last year.

Audi have won the race 10 times in the last 12 years.

PSA Peugeot Citroen, Europe's second-biggest car maker, is struggling to rein in costs and revive flagging sales after a series of profit warnings. In October, Chief Executive Philippe Varin announced plans to save an additional 800 million euros ($1.03 billion) this year, including some 6,000 job cuts.

Jean Todt, president of the governing International Automobile Federation (FIA) who managed Peugeot's team when the carmaker won Le Mans in 1992 and 1993, was disappointed by the decision.

"To lose such a strong player like Peugeot is bad news, indicating what a tough period the automotive industry is going through, and this group in particular," he said in a statement.

"I believe that it is especially true that in tough times one should find ways of expressing full commitment, rather than pulling out."

"But we can only respect their choice and hope that they can come back soon at the highest level of motorsport."

While Peugeot will not have a works team at Le Mans, Toyota have already announced their return to the endurance classic after a 13-year absence.

The Japanese company, who finished runners-up to BMW in 1999, plans to compete in this year's 80th edition of the race with a petrol hybrid car.

Link to article:
Motor racing-Peugeot quit Le Mans for cost reasons | Reuters

 

Wow. That's huge. Audi's biggest threat thus far. Guess Porsche will have to be their new foil

 

It's going to be a one team show this year... I hope they don't stay away for too long. I'm curious to see what Toyota brings to the table even though it's very *ahem*, very unlikely that they will offer any sort of challenge to Audi.

 

Too bad Peugeot deciced to quit Le Mans. The battle between Audi and Peugeot was interesting, regardless of the final standings. Looks like Audi can stop trying now, there is no one to stop them from winning this year (as far as their cars manage to cross the finish line of course).

 

That's a shame.

 

thats disappointing, Peugeot was on the only prototype contender that was able to keep up with Audi. Now there no real compition for the R18.

 

Porsche, people. Don't forget about the return of Porsche.

 

French flair !

Put the french automotive industry to shame ! way to go !

 

Good. They helped ruin Le Mans

 

Yeah, but that's gonna have to wait till 2014..

Vtgts, how did they ruin Le Mans?