Dodge Drops out of NASCAR Racing

Chrysler Group LLC says its Dodge brand is withdrawing from NASCAR Sprint Cup Series and Nationwide Series racing at the end of the 2012 season.

Dodge has been involved in NASCAR racing for more than 10 years. Observers were surprised by the decision, noting that Dodge's redesigned Charger car had just been approved for the Spring Cup Series.

Ralph Gilles, who heads Chrysler's SRT Motorsports operations, told reporters the company had been working on the new car until last week. "You have no idea how much we feel the pain," he said. But he also concedes that Dodge has not been able to attract and retain the "level and quality" of teams and drivers it wanted.

Dodge returned to Sprint Cup racing in 2001 after a 23-year hiatus. It won three Cup races this year but has been overshadowed in the series by Chevrolet, Ford and Toyota. Dodge's last championship was won by Richard Petty 37 years ago.

In February Penske Racing announced it would drop Dodge and switch to Ford cars next year. Dodge reportedly has been in talks with team owners Petty and Barney Visser.