Dodge pulling out of NASCAR *UPDATE

After 11 years of competing in NASCAR, Dodge is reportedly once again pulling out of the racing series. Penske Racing, the only team running under the Dodge banner in 2012, announced in March it was switching to Ford for the 2013 season. On Monday, Penske Racing said it would also switch from Dodge engines to Roush-Yates Ford engines for 2013.

In March, Dodge rolled out its Sprint Cup Charger it planned to campaign in 2013, but NASCAR.com says it did not take part in a tire test at Martinsville Speedway this week.

This is not Dodge's first time leaving NASCAR. The company left the series in 1977 and returned in 2001. It has won 50+ races since then, and could still add to that tally before the end of the 2012 season. NASCAR.com reports that an official statement from Chrysler confirming its departure is expected later today.

*UPDATE: Chrysler has confirmed it is leaving NASCAR. Scroll down to read the official notice and watch a video of executive Ralph Gilles addressing the pullout.