GM Cancels 2 Contracts With NASCAR Tracks.

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Thread: GM Cancels 2 Contracts With NASCAR Tracks.

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    GM Cancels 2 Contracts With NASCAR Tracks.

    Troubled General Motors Corp. has notified two racetracks that run NASCAR events that their current contracts will not be renewed as part of an overall $10 billion cost-cutting program.

    That seems to be just the first step in what could be a huge drop in support by GM, Ford Motor Co. and Chrysler LLC for tracks and teams in NASCAR's top three professional divisions, the NHRA and other racing series in the face of the weakest U.S. auto sales in a decade.

    GM announced Tuesday that it had suspended its stock dividend and will sell up to $4 billion in assets, moves made necessary by the downturn in sales and the rising cost of gas.

    And motorsports sponsorships will not be exempt from the cutbacks.

    "Like all areas of the business, these areas have not gone without a certain level of scrutiny, and there will be modifications and changes in our promotional footprint in all of those areas," Troy Clarke, president of GM North America, said Tuesday. "We're not going to talk about the details today, and specifically NASCAR, but all those areas have been reviewed and will continue to be as we work these action plans through."

    http://www.nascar.com/2008/news/head...cks/index.html
    Last edited by likearock00; 07-17-2008 at 07:48 PM.

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    I don't think those sponsorships sell many cars anyway. GM needs to let people know about their fuel efficient cars now with direct ads. Times have changed. That said, not so much for me. I still would love an Impala SS or a G8 GT!

    :-P to gas prices. Life is fun!

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    I wonder if we will see more Toyota in NASCAR soon as the Big 3 begin to withdraw.

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    or Honda? Nissan?
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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Quote Originally Posted by give_it_all_ View Post
    I wonder if we will see more Toyota in NASCAR soon as the Big 3 begin to withdraw.

    Quote Originally Posted by F14CRAZY View Post
    or Honda? Nissan?
    Always able to see a silver lining in the cloud, that could be a good thing. people like me could easily leave NASCAR behind with an all-non-North American lineup of 43 ricers.

    I said this would happen 3 years ago, and it is. Amazing, and congrats Yoter, you finally killed the golden goose.

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    would anyone care at that point?
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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    I hope GM drops clear out of NASCAR.
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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Quote Originally Posted by give_it_all_ View Post
    I wonder if we will see more Toyota in NASCAR soon as the Big 3 begin to withdraw.
    not only toyota.. but i see honda joining soon.. maybe even nissan somewhere down the line.
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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Quote Originally Posted by give_it_all_ View Post
    I wonder if we will see more Toyota in NASCAR soon as the Big 3 begin to withdraw.
    GM is only pulling ads, not sponsorship/team support.... yet. As for advertisements, don't we already see enough? There is at least 1 Tundra ad every commercial break and Toyota logos posted on a lot of the billboards around the track. Hell, there's even a Toyota running order thing done during every race so we can see how poorly the Non-JGR Toyota's are running.

    Its definitely a lot more than the Big 3. Hopefully it couldn't get any worse.

    Quote Originally Posted by GMusa View Post
    not only toyota.. but i see honda joining soon.. maybe even nissan somewhere down the line.
    I don't know. I don't think Honda would work well with us Nascar people. The whole we are better than you, we're corporate America type people, and we're nowhere near your level just doesn't appeal to Nascar fans.

    O, wait, that's Acura. Sorry, I keep getting those two brands mixed up.

    Nevermind.
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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Somebody needs to start a new series with the Chevy Camaro, Ford Mustang, and Dodge Challenger

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    The nascar image in my northern(yankee) mind doesn't really help sell cars like the malibu.
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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Quote Originally Posted by F14CRAZY View Post
    would anyone care at that point?
    Good point. I don't know that I'd care if they cared.

    Enough people think like that, and the Sport is toast. NASCAR began playing with fire when it did this, and it could (not saying it WILL) backfire on them.

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Quote Originally Posted by marinerbc View Post
    Always able to see a silver lining in the cloud, that could be a good thing. people like me could easily leave NASCAR behind with an all-non-North American lineup of 43 ricers.

    I said this would happen 3 years ago, and it is. Amazing, and congrats Yoter, you finally killed the golden goose.
    GM and NASCAR haters have a look at what advertising in this sport does. The "Biggest Spectator Sport going" and also the most "Brand Loyal Fan Base"

    Like it or not 1 in 3 Adults in the USA are NASCAR fans. http://www.hlglicensing.com/nascar.htm

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Quote Originally Posted by RamJet502 View Post
    Somebody needs to start a new series with the Chevy Camaro, Ford Mustang, and Dodge Challenger
    They were talking about doing that with the Nationwide (Busch) series, but Toyota would have nothing to compete with so it won't happen.

    Quote Originally Posted by TheGeneral View Post
    The nascar image in my northern(yankee) mind doesn't really help sell cars like the malibu.

    Ummmm, you Yankees can be bigger rednecks than some down here. The NASCAR image is what? Rebel flag wavin, beer drinkin, rowdy crowd? Go to any track up in the Northern tier and you'll see the exact same thing at any Walmart around you. I was born and raised in upstate NY and can assure you there are "rednecks" in every town of every state. There is a huge following for NASCAR, and it does give fans an automaker to root for. If they love the automaker on the track, they might just buy a new Malibu.

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    Re: GM Cancels 2 Contracts With NASCAR Tracks.

    Win on Sunday and sell a completely unrelated car on Monday...just doens't work the way it used to. NASCAR is pointless. I've said it before. Make them real stock cars, slow them down, make it meaningful in some way. Right now, it means nothing.
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