Despite record losses, GM has no plans to leave NASCAR
Quote selected text Published February 18th, 2008 in NASCAR News
Despite reporting a record $38.7 billion loss in 2007, General Motors said it had no plans to eliminate its support of NASCAR. General Motors has dominated the series in recent years, with Chevrolet drivers having won the last three championships.
“Obviously, the last racing we would drop in the racing that we’re in would be NASCAR right now, cause it’s still go the best return for us,” said John Middlebrook, the vice president for global sales and marketing for General Motors.
[New York Times]
- Speedway Motorsports reports loss for third quarter
- ISC reports plunge in profits
- Ford staying in NASCAR
- Video: Interview with Bobby Allison, dealing with tragedy
- Mark Martin Could Run Partial Cup Schedule in 2007
Nascar has nothing to do with GM losing so much, it’s the economy and high prices for these vehicles.
I think a lot of the problem with GM loosing money is do to the fact that they still lean on the sale of their Trucks/SUVs to bring in a lot of profit, but it is not the kind of market for that type of vehicle
Ford and Dodge are in the same boat as well. They have executives looking at the bottom line and cutting racing is an easy way to stop a hundred million dollar loss every year regardless of what the return might be. I’m glad they’ve all stuck with racing so far. NASCAR needs as much diversity of manufacturers as they can get.
Maybe if people opened their eyes to the truth about the global warming sales SCAM, they would buy less toyotas and GM and FoMoCo wouldn’t be having these problems.
Although, since oil hit 100 bucks a barrel today, I’d kinda like to have an Acura integra instead of my Suburban for a while:-(
If People were smart they’d buy a GM truck/SUV, Ford “Sports” car, Dodge/Chrysler minivan, a European Luxury car, and then one of those little Asian 4 bangers… that way everybody is happy…. l0l
I look at it this way, I got a 1997 Z24, which was sold in parts of Asia as a Toyota, and my Step-dad has a Chevy Prism, which is a Rebadged Toyota Corolla….. l0l
BUY AMERICAN, LET’S KEEP AMERICANS WORKING !!!
BUY AMERICAN, LET’S KEEP AMERICANS WORKING !!!
BUY AMERICAN, LET’S KEEP AMERICANS WORKING !!!
BUY AMERICAN, LET’S KEEP AMERICANS WORKING !!!
BUY AMERICAN, LET’S KEEP AMERICANS WORKING !!!
BUY AMERICAN, LET’S KEEP AMERICANS WORKING !!!
I do buy American. My Milk, Eggs, Meat, Soda, Pizza, Fast Food, and a few other things, but the rest of the stuff ain’t made in America. Heck speaking of cars, my Uncle worked for Chevy for years, and they got rid of him because they moved production to Mexico, so what did he do…? He relocated and went to work for Toyota because they were making the cars they sell in the US, in the US.
Fisha695 wrote:
it’s sad how the very people who bashed import manufacturers are the same people now who are getting screwed and layed-off by the ‘American’ corporations. Now they turn to import manufacturers to keep food on their tables and to pay their mortgages.
Ya, as quoted above “LET’S KEEP AMERICANS WORKING !!!” just be gratefull to who’s doing it.