It means the manufacturer will not compete in the 2003 championship.
Sven Quandt, head of Mitsubishi Motors Corporation (MMC)'s motorsports activities, said: "This decision is necessary as our engineering resources in Japan and Europe are currently in the process of being restructured. We need some time to return as a top WRC team, just as MMC needed time to return to profitability and growth over the last 18 months. We aim for a successful return with a competitive car in the near future to the benefit of the Mitsubishi Motors brand."
Further strategic decisions will be announced within the next weeks, a MMC statement said.
Mitsubishi Motors has been the FIA Manufacturers' World Champion once and won the Driver's title four times. MMC's first world rally victory was in 1974 at the East African Safari Rally.
