'V8 Supercars Australia': Name Change To Reflect Continued Growth
Release Date: 15/11/2005
www.v8supercars.com.au
An ever-increasing international presence and sustained domestic growth has prompted the Australian Vee Eight Supercar Company (AVESCO) to change its name to the more identifiable V8 Supercars Australia.
The country’s fastest growing sport’s received its certificate of name change from the Australian Securities and Investment Commission yesterday, clearing the way for AVESCO to become V8 Supercars Australia. The AVESCO name and acronym will no longer be used in any form.
With the V8 Supercar Championship Series now broadcast into more than 100 countries and 850 million homes across the world, the board of Australia’s fastest growing sport wanted the management arm of the series to have a more identifiable title.
“The acronym AVESCO is still unfamiliar to a lot of people but the moment you mention V8 Supercars people of all walks identify with it immediately,” V8 Supercars Australia Chairman Tony Cochrane said.
“The international Motorsport community particularly in China and Europe are becoming very familiar with our product and know the name V8 Supercars. They are not generally familiar with AVESCO until the acronym is further explained.
“V8 Supercars could not be in better shape. Numbers across the board are up by 10 per cent or more and we are achieving our goals each year. The name change does not mean any structural change to the business.
“It is a step forward in our brand awareness in Australia and overseas. By changing our trademark name the hope is that it will become synonymous around the world. We also wanted to ensure our sport remains uniquely Australian.”
The registered trademark of the sport has always been V8 Supercars Australia which is depicted in the oval logo that sits atop the Championship Series motif.
The formal name change now means that V8 Supercars Australia is the official title of the sport’s governing body, formerly AVESCO.