PSA Peugeot Citroën has officially announced its withdrawal from Le Mans endurance racing ahead of the 2012 season on the back of the volatile economic climate in Europe.
In addition to the aforementioned economic conditions, which saw PSA Peugeot Citroën CEO, Philippe Varin, announce plans to save 800-million euro and cut 6 000 jobs in 2012 ,the company has also cited a desire to prioritise the promotion and sales of new models over its racing operations:
"This decision has been taken in the context of a difficult economic environment in Europe," the Peugeot brand said in a statement on its website. "Peugeot prefers to concentrate its 2012 resources on its commercial performance and, in particular, ensuring the successful launches of the 208, 3008 HYbrid4, 508 RXH, 508 HYbrid4 and 4008."
Fans of the 24 hours of Le Mans will be greatly saddened by this move, which spells the end of one of the sports greatest rivalries: the battle between Peugeot’s 908 prototypes and Audi’s R10 and R15 racers. Peugeot enjoyed considerable success in the competition with 14 victories in the last 16 races, including a double win at the 2009 24 Hours of Le Mans.
Despite this announcement, however, a spokesperson from PSA’s second brand Citroën has announced that it will continue to participate in the World Rally Championship.
Source: Reuters via WorldCarFans