Auto Racing Industry
Humanity in general has, throughout its long history, had a love for competition. The desire to win is hard-wired in our genes and the attraction to speed… well, that just reflects our love of excitement and good old-fashioned fun! The invention of the automobile provided the perfect opportunity – and vehicle, literally – for people to challenge one another on early racetracks and road courses as they had previously done before with horses. Auto racing was also seen by perceptive car manufacturers as a great way to advertise – provided their cars were winners, of course. The saying “race on Sunday, sell on Monday” exemplifies the business of auto racing and the ever-expanding industry of racing, promotion and parts marketing that has grown up around it.
The auto racing industry has progressed quite a ways from its earliest days. Formula One racing, for example, has become a multi-million dollar sport with high-tech cars, generously paid drivers and big business sponsorships. NASCAR racing proves that “the business of America is business”, both on and off the track. The names of NASCAR events and entire series like the Nextel Cup indicate the need for big-time sponsorship and the copious flow of funding it provides the organizers, teams and drivers. Try to think of a racing car that doesn’t have logos and advertisements on it – bet you can’t, unless it’s a vintage race car.
Auto racing has truly become a big business. Besides sponsorships, revenue comes in from ticket sales and merchandising. This industry seems likely to continue its phenomenal rate of growth as people will never lose their love of thrills, spills and racing excitement!
Check in with Autoracing.com regularly to keep up to date on the latest auto racing industry developments.