Peugeot will end its endurance racing programme with immediate effect, blaming its decision on poor car sales in 2011 and the need to focus on marketing its new Peugeot 208 supermini and hybrid models in 2012.
Peugeot was Audi's main rival in sportscar racing, running in the Le Mans 24 Hours and associated series since 2007.
"This decision has been taken in the context of a difficult economic environment in Europe," Peugeot said in a statement on Wednesday. "Peugeot has chosen to concentrate resources on its sales performance in 2012."
The team won Le Mans in 2009 and last year won the inaugural Intercontinental Le Mans Cup title.
Toyota will compete in LMP1 this year, but only with a part programme, while Porsche's programme will not hit the track until 2014.