Fuji Heavy Industries Ltd.'s Subaru quit the FIA World Rally Championship, the second team to exit the event in two days, as carmakers struggle with slumping auto demand.
"Given the sudden deterioration in the operating environment, we were forced to make this decision," Fuji Heavy President Ikuo Mori said Tuesday in Tokyo. The move will save the company "a few billion yen."
Tokyo-based Fuji Heavy follows Suzuki Motor Corp. in pulling out of the rally championship. Honda Motor Co. has quit Formula One racing.
Subaru was one of six teams that took part in the 2008 championship, finishing third behind Citroen-Total and BP-Ford.
Parent Fuji Heavy expects net income to plunge 46 percent to ¥10 billion in the year ending March 31.