Rally Tasmania, the long standing event which was to have run from February 24-26 next year, has been run for the last time.

According to event owner, Les Walkden, the economic downturn and increased competition from other tarmac rally events has forced organisers to pull the pin with little prospect of a return.

"We came up with a number (of competitors) we needed by a certain date to make it a goer next year and it didn't get there," Walkden said.

Plans are underway for a smaller event to replace the rally, which will help offset the loss of some of the economic benefit generated by Rally Tasmania

Event founder and rally director for Walkden, Tony Wright, said he was already planning a smaller one and a half day event on February 25 and 26, according to a report in Burnie's 'The Advocate' newspaper.

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