It's been over a month since we last heard any bad news about manufacturers pulling out of motorsports, and in that time, we've actually heard a few encouraging announcements from race teams. We'd hoped we were past the worst of if, but that apparently isn't the case, as Mitsubishi announced today it is pulling out of Cross Country Rally Racing, starting with the Dakar Rally.

"The sudden deterioration of the global economy made it necessary for the company to focus its resources more tightly, leading to today's announcement," the company said in a statement.

The company's 12 Dakar victories, including a seven-win streak, gave it nearly a 50% win ratio, but that apparently hasn't been enough to justify further participation. After 26 entries in the legendary rally, the team is calling it quits. The company credits participation in rallying with the development of the four wheel-drive and all wheel-drive systems found in its street vehicles. Here's hoping they can come back when the economy turns around.

Source: Mitsubishi