In August, motorsport and engineering firm Prodrive announced it was selling its majority stake in Ford Performance Vehicles (FPV), the official tuning arm of the Blue Oval in Australia, back to the automaker.

This would see Ford handle all future development programs as well as manufacturing for FPV’s limited line of cars and engines from 2013 onwards.

Unfortunately for a large majority of staff at FPV, Ford decided that it would move production of FPV vehicles to its own factory, with FPV engines to be built at Ford’s Geelong engine plant and the cars to be built at the automaker’s Campbellfield plant, both of which are located in the Australian state of Victoria.

Most of FPV’s 140 staff has already been let go.

CarsGuide is reporting that the last FPV model, a red Ford Falcon GT, has now been built, ending almost 21 years of production at the company’s plant, which is located across the road from Ford’s Campbellfield plant where the Falcon sedans the FPV models are based on are built.

FPV had built just over 100,000 vehicles during its run as a mostly independent firm. The main reason for its demise has been declining sales of large sedans in the Australian market.

FPV sold only around 1,500 units last year, a fraction of its previous annual output. The donor Falcon sedan is also on its last legs, set to be replaced in 2014 by a new model that some suggest will be a rebadged 2014 Ford Taurus. Others claim the rear-wheel-drive Falcon will receive another facelift.

The good news is that the FPV brand will live on, with its current lineup to continue production until the arrival of the new Falcon in 2014. It’s not clear what Ford’s plans are for FPV beyond that date.

FPV’s most recent model is the Falcon GT RSpec, which features a supercharged version of the Mustang’s 5.0-liter V-8 engine. Peak output is 450 horsepower and 420 pound-feet of torque, all of which is directed to the rear wheels via a six-speed manual or six-speed automatic.