BERLIN, Oct. 15 (Xinhua) -- The world rally championship will miss Ford next season after the American constructor announced to quit on Monday.

"It's better for the company and the Ford marque to pull out of the world championship," Ford Europe's vice-president Roelant de Waard wrote on their Facebook page in comments reported by German news agency SID.

According to De Waard, the decision was made on economic reasons with Ford sales in Europe down 19 percent on this year's first set of figures. It had not been an easy one to take, he added.

Ford, whose Finnish driver Jari-Matti Latvala is placed third in this season's standings, will however continue to supply the M-Sport organization, its partner in the championship, with cars and engines.