Now ranked 37 in the top 50 American corporations, the diversification of Firestone had accelerated to areas ranging from coated fabrics to footwear. But the 1970s brought some significant setbacks for Firestone. On Oct. 17, 1973, Arab nations began an oil embargo against the United States in an attempt to raise prices and alter U.S. support of Israel. This began a series of consequences which impacted Firestone and other American tyre makers for years to come-people started driving less and not as far, and the demand increased for smaller European and Japanese cars. In 1975, despite years of success, Firestone officially stepped out of motorsports. A few years later, in the biggest product recall in the nation's history at the time, Firestone recalled 400,000 Firestone 500 steel-belted radial tyres at a cost of $148.3 million.