UPDATE: The co-driver who died after his rally car plunged down a 50m embankment in the Imbil State Forest on Sunday has been named.

The Confederation of Australian Motor Sport (CAMS) and the International Rally of Queensland said James McIntosh died as a result of a crash.

The driver, Grant Brecknell, suffered injuries in the accident and is in Royal Brisbane and Women's Hospital.

He was most recently listed as being in a serious condition.

The incident occurred near Imbil, south-west of Gympie on the Sunshine Coast during one of the stages of the International Rally of Queensland.

The pair had been competing in the Queensland Rally Championship division of the event.

CAMS and the International Rally of Queensland will continue to assist Police in this matter.

The event is part of a series that also visits China, Japan, Malaysia, New Zealand and New Caledonia.

Teams and drivers from throughout the Asia Pacific region had been participating in the rally since Friday with Sunday being the final day of competition.

The championships is sponsored by the Sunshine Coast Regional Council as part of its push to bring iconic events to the region.