Dodge's decision to abandon the sport doesn't come as a total shock as Penske Racing - the lone racing outfit using Dodge-based vehicles - announced earlier this year that it was switching to Ford for the 2013 racing season. Dodge said its unique "one-stop shop" relationship with Penske was no longer working.
Dodge quit NASCAR once before in 1977. Dodge returned to NASCAR racing in 2001, collecting 55 Sprint Cup victories along the way.
Fiat pressure
Although Chrysler parent Fiat hasn't publicly spoken out about Dodge's role in NASCAR, some believe the Italian automaker lacks passion for the American sport. In fact, sources have revealed that Fiat's ownership of Chrysler weighed in Penske's decision to leave for Ford.
Fiat is also struggling to keep its head afloat in the European market, so the automaker is likely keen on saving as much cash as possible.