The Economics and Global Expansion of NASCAR

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In the 2008 NASCAR season, a topic of discussion was the Economics and Global Expansion of NASCAR, as Toyota announced they would be joining NASCAR's ranks.[1] Toyota has generated success early in the season so far winning several races off performances from Denny Hamlin and Kyle Busch.[2] Other foreign manufactures are looking to jump in the mix of NASCAR. Honda is speculated to be interested in joining the NASCAR ranks in the near future.[1] The increase in foreign competition is expected to raise the price of putting a car on the track.[1]

Another topic on the NASCAR circuit is the increase in foreign born drivers and the effects they may have on the future of NASCAR.[citation needed] Juan Pablo Montoya, Patrick Carpentier, and Dario Franchitti are among the foreign-born big names who have crossed over from Formula 1 and the Indy racing circuit.[3] These drivers have made an impact on NASCAR not only by winning races and dominating road courses, but by expanding NASCAR’s point of view.[2]

NASCAR has incorporated a race in Mexico City for the Nationwide Series and possible expansion with exhibition races in Japan and Canada.[4]

Expanding into international markets could increase NASCAR's popularity and allow foreign sponsors and manufactures to get involved in the sport.[citation needed] Some think this could be a very positive move for NASCAR, which has seen its television ratings drop 21 percent between 2005 and 2007.[5] This was the first time this had happened in over 15 years.[citation needed] During the same 2 year period, NASCAR also saw the greatest drop in tickets prices observed in over a decade.[5] Some think that an increase in international diversity would translate into growth and generate greater opportunities for NASCAR fans.[3]

[edit] Notes

  1. ^ a b c Bernstein, Viv. "World of change is likely as Nascar lets Toyota join." 24/01/2006. 1 May 2008 <http://www.nytimes.com/2006/01/24/sports/othersports/24nascar.html?pagewanted=print
  2. ^ a b "Season Results." NASCAR.com. 1 May 2008 <http://www.nascar.com/races/cup/2008/rr_index.html>.
  3. ^ a b Swan, Raygan. "This years Daytona 500's grid looks like an Indy 500 grid." 09/02/2008. 1 May 2008 <http://www.nascar.com/2008/news/opinion/02/09/rswan.welcome.open.wheel/index.html >.
  4. ^ Bowles, Thomas. "Bowles-Eyed View." NASCAR's international expansion missing a foreign star. 05/03/2006. 1 May 2008 <http://www.frontstretch.com/tbowles/2338/>.
  5. ^ a b Fischer, Doug. "NASCAR's foreign invasion." 17/02/2007. 1 May 2008 <http://www.canada.com/topics/sports/story.html?id=45fb6b27-716b-4586-b52d- 8f83f019ce4b&k=13233>.