Mitsubishi is closing its Ralliart division, bringing to an end more than 25 years of high-performance, motorsport-related tuning and development.
A statement on the official Ralliart website from the division's president Masao Taguchi said, "Because of the sudden change of economy situation, the business circumstances surrounding our company radically became worse.”
"And so, this time, we have reached the conclusion that Ralliart Inc would scale down our business activities as of the end of March 2010."
The release states that Ralliart will end its support of motorsport customers, scrap new planning, development and merchandise of Ralliart products, and pull its internet information and news service.
The Ralliart name became most famous during Mitsubishi's successful rally campaigns in the late 1990s - although in truth, these activities were the work of Ralliart Europe in Rugby.
However, Ralliart has played a key role in developing Mitsubishi's Evo line of road cars, which continues to play a leading role in international Group N rallying. The statement indicates that this work will now be conducted "by Mitsubishi Motors Corporation as it is".