Peugeot Financial Issues Force Cancellation Of Le Mans Racing Program

After 14 victories in the last 16 races, including a double at the Le Mans 24 Hours 2009 as part of the ILMC championship won by Peugeot two years running, in 2010 and 2011, the Brand has decided to close its 2012 endurance programme and will not be taking part in the next Le Mans 24 Hours.

This decision has been taken against the backdrop of the challenging economic environment in Europe coupled with a particularly busy year for the Brand in terms of new vehicle launches. In this context, 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 which will take forward the Brand's strategy of moving upmarket and extending its global presence. In keeping with its social responsibility obligations and as part of the GPEC (forward management of jobs and skills) agreement signed by 5 trade unions, all of the employees concerned will be offered redeployment solutions within the Group thanks to a special system set up to oversee and lead occupational training/retraining as well as internal mobility.

AlleVier - 1/18/2012 2:03:49 PM

+1 Boost

What a drag. I expect and hope that Toyota is ready and I certainly hope this is truly related to Peugeot's financial situation and NOT an indicator of how expense Le Mans is getting for the prototypes.

AlleVier - 1/18/2012 3:48:41 PM

+1 Boost

NOT an indicator of how "expensive".

VISO - 1/19/2012 11:47:34 AM

-2 Boost

Maybe they can ask Audi for loan? Audi needs someone to kick around the track.

MercedesSL - 1/19/2012 12:16:55 PM

+2 Boost

Last I checked Peguet won 14 out of the 16 races last year...