Peugeot and Citroen to quit rally racing

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French stables Peugeot and Citroen will end their involvement in the world rally championship circuit at the end of 2005, their parent company PSA announced in Paris Thursday.

The news comes as a shock since Citroen have recently picked up both the constructors' title and, through Frenchman Sebastien Loeb, the drivers' title.

Peugeot came fourth in the constructors standings.

PSA said the state of the market had forced them to put the brakes on their commitment to rallying, although they would be looking for other, less expensive avenues in sport in which to invest.

"Given the current economic climate in the industry PSA Peugeot Citroen has decided not to commit to the world rally championship beyond 2005," said a statement from PSA.

PSA however said the current state of company finances would have to hold sway over the relative success they have enjoyed in the sport.

"We've been involved in world rally for five years in a row and picked up five constructors titles and three drivers titles, both of which are the fruit of the determined and passionate hard work of people from both Citroen and Peugeot," the statement added.

"But at the same time it has also required an important financial commitment."

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