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SST55
Guest
Their "sponsorship" at Daytona.
GM rethinks Daytona sponsorship: General Motors Corp. has not decided whether to renew a decades-long sponsorship of the Daytona International Speedway and its signature stock car race, the Daytona 500, despite the deal's expiration in three weeks. GM has a multiyear agreement that ends Dec. 31 to serve as the official car and truck provider of the speedway and the Daytona 500, NASCAR's most prestigious event, speedway spokesman Andrew Booth said Thursday. The race is Feb. 15. GM said discussions are under way about the Daytona sponsorship but the automaker has not reached an agreement. The Daytona sponsorship dates to the early 1970s. GM provides fire and safety vehicles, pace cars and other vehicles for use during the race, as well as a July race at the track. GM did not disclose how much it spends on the Daytona deal or NASCAR sponsorships. Scaling back motorsports sponsorships is seen as a risky move because the auto industry and racing are closely linked and give automakers a prime marketing opportunity to reach customers who buy domestic vehicles at a rate higher than the national average. Race fans, particularly stock car enthusiasts, are loyal to the sport's sponsors and advertisers. The heritage and loyalty runs so deep that NASCAR Chairman Brian France recently lobbied Congress to support a financial bailout of the auto industry. NASCAR sponsorships are a wise investment because each race attracts about 120,000 fans, said Terry Dolan, manager of Chevy Racing. GM often creates a showroom environment on the speedway grounds, giving spectators an intimate look at its model lineup. The 2008 Daytona 500 attracted 33.5 million television viewers and is the top-rated motorsports telecast in North America. This year, GM had sponsorships at 12 tracks that feature NASCAR events, including the Indianapolis Motor Speedway, though three of those sponsorships have not been renewed. Chevrolet also is the official vehicle sponsor of the Chevy Rock & Roll 400 held in September at Richmond International Raceway in Virginia. That sponsorship expires next year.(Detroit News)(12-12-2008)
I'm not a bean counter nor did I stay at a Holiday Inn last night but I have to wonder what the costs are to supply all these vehicles versus the recovery in sales? Basically, in these economic times is it worth it?
GM rethinks Daytona sponsorship: General Motors Corp. has not decided whether to renew a decades-long sponsorship of the Daytona International Speedway and its signature stock car race, the Daytona 500, despite the deal's expiration in three weeks. GM has a multiyear agreement that ends Dec. 31 to serve as the official car and truck provider of the speedway and the Daytona 500, NASCAR's most prestigious event, speedway spokesman Andrew Booth said Thursday. The race is Feb. 15. GM said discussions are under way about the Daytona sponsorship but the automaker has not reached an agreement. The Daytona sponsorship dates to the early 1970s. GM provides fire and safety vehicles, pace cars and other vehicles for use during the race, as well as a July race at the track. GM did not disclose how much it spends on the Daytona deal or NASCAR sponsorships. Scaling back motorsports sponsorships is seen as a risky move because the auto industry and racing are closely linked and give automakers a prime marketing opportunity to reach customers who buy domestic vehicles at a rate higher than the national average. Race fans, particularly stock car enthusiasts, are loyal to the sport's sponsors and advertisers. The heritage and loyalty runs so deep that NASCAR Chairman Brian France recently lobbied Congress to support a financial bailout of the auto industry. NASCAR sponsorships are a wise investment because each race attracts about 120,000 fans, said Terry Dolan, manager of Chevy Racing. GM often creates a showroom environment on the speedway grounds, giving spectators an intimate look at its model lineup. The 2008 Daytona 500 attracted 33.5 million television viewers and is the top-rated motorsports telecast in North America. This year, GM had sponsorships at 12 tracks that feature NASCAR events, including the Indianapolis Motor Speedway, though three of those sponsorships have not been renewed. Chevrolet also is the official vehicle sponsor of the Chevy Rock & Roll 400 held in September at Richmond International Raceway in Virginia. That sponsorship expires next year.(Detroit News)(12-12-2008)
I'm not a bean counter nor did I stay at a Holiday Inn last night but I have to wonder what the costs are to supply all these vehicles versus the recovery in sales? Basically, in these economic times is it worth it?
