Ralph Gilles, president and CEO of Street and Racing Technology (SRT) Brand and Motorsports with the Chrysler Group, said:
We’ve spent an intense five months working to identify and evaluate all options for our future involvement in NASCAR. A number of opportunities emerged, and our team worked diligently to put a structure together to fit our overall business and competitive objectives. While we have been pleased and enthused with the amount of interest from teams and sponsors over that time, in the end, we simply couldn’t develop the right structure.
Penske Racing is the only full-time team that fields Dodge Chargers in the Sprint Cup Series. Penske announced earlier this year that they would be switching from Dodge to Ford.
Dodge approached Richard Petty Motorsports about a possible partnership, but Petty elected to stay with Ford.
The decision to pull out of the sport indicates that no full time team was willing to switch to Dodge because it is highly unlikely the Dodge would put the time, effort, and money into developing a car for the 2013 season if they knew all along that they would be pulling out.