Japanese car manufacturer Subaru has pulled out of the world rally championship for the 2009 championship. Subaru’s pullout came a day after Suzuki announced its pullout. It is now confirmed that the global economic downturns are taking its toll on premiere rallying competition.

"Our business environment has been dramatically changed due to the quick deterioration of the global economy," Subaru parent company Fuji Heavy Industries declared in a press statement released last Tuesday. "In order to optimize the management resources and to strengthen further the Subaru brand, FHI decided to withdraw from WRC activities at the earliest timing."

"Subaru's departure from the world rally championship is a great loss as it is one of the sport's icons," Said David Richards, chairman of Prodrive, which ran the Subaru rally team. Subaru has been one of the leading names in rally championships, the manufacturer helped establish famous drivers like Colin McRae and Richard Burns.

"Although this decision closes a significant chapter in Prodrive's history, our focus now turns to the future," asserted Richards. He said that the company will try to re-enter the rallying fray in the 2010 championship, when a host of new regulations will be implemented to decrease costs.