Simplify the following text for a Grade 11 native English-speaking person.
Original: In November 2005 , Toyota company officials announced the company 's withdrawal from American open-wheel racing and the immediate discontinuation of its IRL program , coinciding with its entrance into NASCAR 's Craftsman Truck Series in 2004 , and its discontinuation of its IMSA program .
Simplified: In November 2005 , Toyota company officials announced the company 's withdrawal from American open-wheel racing and the immediate discontinuation of its IRL program . This was the same time they entered into NASCAR 's Craftsman Truck Series .