And the hits just keep on coming for America’s former automotive darling.

Today Toyota announced its intentions to withdraw from F1 at the end of this season, citing economic reasons. The team has escaped the axe once before, but this time’s for real, we’re afraid. It’s pretty odd timing considering the recent reveal of their new supercar, the LFA.

After setting a strong sales pace for years and essentially becoming the reliability leader for the American car market, things have gone downhill quite quickly. First came a couple recalls, then there’s the RAV4 transmission problem that the company is losing customers over, followed by the unveiling of a car that goes against every aspect of the company’s current image.

Since 2002, Toyota has racked up 13 podium and 87 point finishes over eight seasons. [Source: Toyota]