Peugeot officially announced they have ditched all 2012 endurance programme, including Le Mans 24 Hours.

The reason? Challenging economic environment in Europe, according to Peugeot. The French car maker is going to have a busy year in terms of new vehicle launches – including the 208, 3008 HYbrid4, 508 RXH, 508 HYbrid4 and 4008, which is why they decided to concentrate 2012 resources on commercial performance.

But it’s not like all the Motorsport employees are going to be let go. They 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”.

It’s a shame really, not having the magnificent Peugeot 908 on the grid at this year’s Le Mans big race. Audi is probably sad too. Sure, not having the 908 around means an easier win for them, but it will be no fun.

Damn you economy!