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 |  Jan 18 2012, 3:35 PM

Peugeot announced its withdrawal from Le Mans effective immediately.

While the diesel Peugeot 908 prototype won the 2009 24 hours of Le Mans outright, and has also earned 14 victories out of the 16 races in 2011, Peugeot has decided to terminate its endurance racing program in order to place greater emphasis on its sales operations amid decreasing profits and a trying European economy.

In hopes to turn things around for 2012, upcoming new model releases include the Peugeot 208, 3008 HYbrid4, RXH 508, 508, and 4008 Hybrid4, each playing a role in Peugeot’s strategy to globalize the brand and position itself upmarket.

While Peugeot’s absence from endurance racing will be missed, motorsport fans can look forward to the upcoming return of Toyota and its new LMP1 hybrid program for 2012. What’s more, Porsche engineers are hard at work developing their new prototype for Le Mans 2014.