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Economic Downturn Continues to Impact Auto Racing

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					Economic Downturn Continues to Impact Auto Racing
With widespread economic difficulties crippling communities all over the planet, it's very hard to find any facet of the entertainment and sporting industry that hasn't been negatively impacted in some way. The world of auto racing in particular has undoubtedly felt the crunch caused by global recession. Nearly all racing teams and events rely largely upon sponsorships from major corporations and automobile manufacturers. A majority of these companies and sponsors have drastically reduced the amount of money they are willing to throw at their racing teams as they furiously slash spending in order to remain competitive and stay in business. Declining sales have forced automobile manufactures to trim a vast majority of noncrucial spending and investments. A number of professional racing teams, particularly within NASCAR, have some sort of sponsorship agreement with a major auto manufacturer. Most of these companies, particularly in America, do not feel they are receiving a valuable return on their investments in racing. As standard engines types with identical chassis and similar body styles continue to run rampant in professional racing, most of the major automakers fear that the vehicles seen on the track do not represent their production offerings that consumers can find off the track. The only feature that identifies the racecar with a sponsor tends to be the decals and logos placed on every square inch of the exterior. Many companies are now seeking to share sponsorship deals with other companies in order to reduce costs without cutting their involvement in racing entirely. In most cases, sponsors feel that professional racing organizations have placed the emphasis on creating celebrity superstar drivers rather than promoting the automobiles they race. Major international racing events have also been impacted by the global economic downturn. The Japanese Grand Prix has alternated hosting duties between Honda and Toyota. It was slated to be hosted at Toyota's Fuji Speedway in 2010. Due to its recent posting of record losses amidst sluggish sales figures, Toyota recently announced that they had no choice but to cancel plans to host the event at Fuji. A spokesman for the Fuji Speedway has said that they are unsure if another facility will be willing to host the race. Options to hold the event in another country are being explored, but it's starting to seem that Honda would have step up and take over hosting duties at its Suzuka Speedway in order to save next year's Japanese Grand Prix. E. B. Chuong writes articles about recreational vehicles, and outdoor activities. Isn't it time you give Vemar helmets a closer look? Challenge yourself, and see why Vemar helmets are your best choice for top speed riding.


				
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Description: With widespread economic difficulties crippling communities all over the planet, it's very hard to find any facet of the entertainment and sporting industry that hasn't been negatively impacted in some way. The world of auto racing in particular has undoubtedly felt the crunch caused by global recession. Nearly all racing teams and events rely largely upon sponsorships from major corporations and automobile manufacturers. A majority of these companies and sponsors have drastically reduced the amount of money they are willing to throw at their racing teams as they furiously slash spending in order to remain competitive and stay in business.