Scottvoight's NASCAR Blog

February 7, 2011

NASCAR Begins to Feel the Pinch of the Recession

Filed under: NASCAR Articles — Scott Voight @ 2:55 pm

NASCAR begins to feel the pinch of the recession.  It was expected that the big three American auto makers would be pulling back support of NASCAR racing in the face of their current financial crisis. However, January 15th Toyota announced it would be cutting back as well.

The president of Toyota Racing and Development (TRD) said, he expects budget cuts in its NASCAR program as well. The Japanese automaker is feeling the effects of the global economic crisis.  The Japanese automaker who was typically immune from the declining auto sales associated with Americas big three automakers, anticipates its first yearly loss in the company’s 70 year history.  Toyota has also decided to suspend production at all 12 of its plants for 11 days over February and March.  The last time this was done was in August of 1993.

TRD president   does not anticipate a reduction in the cars on the track. Just in the support it offers the smaller teams and smaller racing series. Toyota will also reduce support in the technology, parts, pieces and engineering for the time being.

None of the manufacturers should completely eliminate their factory cars on the track, because this the manufacturers understand it is one of the most important marketing tools to them.  They still believe in the win on Sunday and Sell on Monday philosophy.

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