The Telegraph reported that there were disputes about the group's purpose, years on from the volatile Max Mosley era and breakaway series threats.
Now, on Friday, FOTA was formally disbanded.
Secretary general Oliver Weingarten confirmed the news, saying the "changing political and commercial landscape" had caused the decision.
"The teams will probably think they can exist and fight their own corner but there will be something when they will realise they will be stronger in numbers," he lamented in an interview with the Associated Press.
"There is a crisis around the corner -- whether on the track, with the impact of the new regulations, whether on the governance side, or on the commercial side," Weingarten warned.