Downturn affected Auto Racing - Japanese Grand Prix 27-10-2011
By: Shweta Dubey
The widespread difficulties in worldwide economies have crippled communities over the world; hence, it became quite hard for finding any face of the sporting as well as entertainment industry that has not been adversely affected in any way. Undoubtedly, the current crunch has a significant effect over the auto racing world as well due to the global recession. The shortly ended recession in the previous year and the current troubling financial scenarios has vast impact over the world of auto racing.
Almost all major events and teams depend upon big sponsors' automobile and corporations' manufacturers for sponsorship. Many big companies as well as the sponsors have taken their step back and reduced the amount of money as well what they are willing to invest in the car racing teams and players in order to slash their spending furiously so that they can remain in the competition as well as in the business. The Japanese Grand Prix and other auto racing competitions are experiencing the result of the same. The automobile manufacturers are continuously trimming on a huge majority of their investments and expenditure due to declining number of sales in the auto racing market. All the professional racing teams including the NASCAR are dealing with of the sponsorship agreement with some major auto manufacturer. Majority of these companies, especially in the US are hardly feeling that they could obtain significant returns in the auto racing in the current world scenario. The identical chassis and standard types of the engines along with the similar style of car body are continuously running out of the control in the professional racing scenario. Most of the major companies in the auto manufacturing business scare that the vehicles running on the auto track are running lacking their production offering representation that is leading the consumers off the track.
The only feature through which a racecar could be identified includes the logos and decals from the sponsor that are generally placed on every square inch of the auto car's exterior part. Nowadays, many companies are seeking the new deals of sponsorship with other auto companies for reducing their cost without even cutting their involvement with the racing world. However, the Japanese Grand Prix event, still receive some good sponsors to get organized with Suzuka, the original organizer. However, as per the experts, the professional organizations of racing are placing more emphasis over the creation of the celebrity superstars in the field of driving instead of promoting the auto racing automobiles for which the race has been organized. This has also been experienced by many sponsors in this field.
The global economic downturn had a vast impact over the major events of international racing. The hosting duties of the Japanese Grand Prix have also been altered between the Toyota and Honda. The event was decided to be organized in 2010 in the Fuji Speedway of Toyota. However, due to record loss posting of the event in Toyota with observing sluggish figures of sales, Toyota stepped back from the organization of the event at Fuji under their sponsorship.
