Peugeot exits Le Mans racing, citing finances

PARIS Wed Jan 18, 2012 10:04am EST

PARIS Jan 18 (Reuters) - French automaker PSA Peugeot Citroen said it would withdraw from Le Mans 24-Hour endurance racing before the 2012 season, citing financial reasons.

"This decision has been taken in the context of a difficult economic environment in Europe," the Peugeot brand said in a statement on Wednesday. "Peugeot has chosen to concentrate resources on its sales performance in 2012."

(Reporting by Laurence Frost; editing by Elena Berton)