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Peugeot Cancels Endurance Racing Program, Cites Poor Euro Economy


Peugeot at the 2011 Petit Le Mans at Road Atlanta

Peugeot at the 2011 Petit Le Mans at Road Atlanta

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Peugeot’s endurance racing program managed to achieve the seemingly impossible by ending Audis long-term dominance of the sport. Taking a page from Audi’s playbook, the diesel-powered Peugeot 908 dominated the 2009 24 Hours of Le Mans, and won the overall ILMC championship in 2010 and 2011.

The team managed to amass an impressive 14 victories in the last 16 races, and all signs pointed towards continued dominance in 2012. That’s why Peugeots announcement that it’s abandoning endurance racing to focus on new product launches comes as such a surprise.

Peugeot frames its decision “against the backdrop of the challenging economic environment in Europe,” coupled with a “particularly busy year” for new vehicle introductions. The brand will roll out some five new vehicles in 2012, including two new hybrid offerings.

As Reuters reports, Peugeot is struggling to cut costs, and has plans to shed some 6,000 jobs in 2012. Combined with other cuts, the move will help Peugeot trim some 800 million euros ($1.03 billion) from its 2012 operating expenses.

It's unclear how much money will be saved by eliminating the Le Mans Championship effort, and Peugeot promises to redeploy team members into new positions wherever possible.

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Comments (6)
  1. totally understandable. Its happening every where in every sector. Peoples jobs just arent safe any more !
     
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  2. @WizardsLore, remind me to tell you my own tale over a pint sometime...
     
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  3. @ Kurt i will be all ears my good man :)

    what are the prospects like on MA ? blogging on something your passionate about and being paid for it must be a wonderful kick. Maybe i can combine the 3 im knowledgable about, Sports, cars, Movies and then throw in Food and im sure i could contribute
     
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  4. @ Kurt i will be all ears my good man :)

    what are the prospects like on MA ? blogging on something your passionate about and being paid for it must be a wonderful kick. Maybe i can combine the 3 im knowledgable about, Sports, cars, Movies and then throw in Food and im sure i could contribute
     
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  5. @WizardsLore, writing about cars (for any outlet) doesn't pay particularly well, and opportunities are few and far between. Still, those of us lucky enough to work in the field get to play with cars for a living, and it doesn't get better than that.
     
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  6. my jealousy is rife then haha

    if i decide to pull my finger out and write some reviews for the site i will let you know
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