Munich, July 29 (DPA) BMW is to pull out of Formula One at the end of the 2009 season, chairman Norbert Reithofer confirmed Wednesday at a press conference at the carmaker's headquarters here.

The reasons for the decision were neither the high costs nor the disappointing results, but a company-internal strategy change. The German carmaker is believed to be quitting only Formula One, and will remain active in other motorsports.

'The board decided yesterday that we would change our involvement in motorsport. The BMW group will end its involvement with Formula One at the end of the 2009 season,' said Reithofer in the company of BMW-Sauber team principal Mario Theissen.

'Obviously, this decision was a difficult one for us.'

BMW took over the Swiss Sauber racing team in 2005 and debuted in the Formula One a year later. In 63 races to date, BMW-Sauber so far has celebrated only one victory, by Polish driver Robert Kubica in Montreal in June.

'In the background of a sustained restructuring of the entire company, our involvement with Formula One doesn't coincide with the companies main objectives,' said Theissen.

'From the point of view of the company, I can understand this decision.'

Motorsport's ruling body, the FIA, blamed the global recession for the move.

'It has been clear for some time that motor sport cannot ignore the world economic crisis. Car manufacturers cannot be expected to continue to pour large sums of money into Formula One when their survival depends on redundancies, plant closures and the support of the taxpayer,' said the organization in a statement.

According to the Bild Zeitung newspaper, Japanese carmaker Toyota is also considering pulling out of the sport while Honda withdrew at the end of last year.

FIA has argued that it is addressing the problems and pointed to the new cost-cutting measures introduced this season as well as the Concorde Agreement set to be signed later this week.