Kurt Busch Arrested For DWI

Former NASCAR champion Kurt Busch was arrested on Tuesday night ... after authorities say they caught him driving drunk.

The 46-year-old was pulled over at around 11:30 PM in Iredell County, North Carolina ... following allegations he was driving 18 MPH over the posted 45-MPH speed limit, this according to the Iredell Free Press.

The outlet, citing court documents, reported Busch told officers he had been drinking prior to the stop -- and elicited signs of being wasted, including having "red glassy eyes."

Law enforcement says Busch submitted to a breath test and registered a blood-alcohol concentration of .17 -- more than two times the legal limit of .08 in North Carolina.

The retired racer was ultimately hit with DWI, speeding, and careless and reckless driving charges.

Hours after being released from custody, Busch said in a statement he was sorry for his actions.

"I'm very disappointed in myself and I apologize to my family, my racing family, and to my fans," he said. "I will work with the authorities to rectify the situation and work with the county to make it a safer place in the future."