Toyota won its first championship in the NASCAR Sprint Cup Series this year and is also seeing market-share gains in NASCAR markets. Repucom’s Executive Vice President of the Americas, Peter Laatz, recently spoke to Bloomberg Business reporter Eben Novy-Williams about Toyota’s growing presence in the traditionally American sport. The following is a series of excerpts from the article featuring Repucom data and insights.
“NASCAR fans may still be more likely to buy a Chevrolet or Ford just based on the domestic, Americana nature of things,” said Peter Laatz, executive vice president of the Americas for research firm Repucom. “So they’ve got work to do in that crowd. But they know that crowd is open to the message they’re putting out, because they are supporting NASCAR, Kyle Busch, and their other drivers.”
NASCAR fans are also terrifically loyal. Seventy percent say they buy from companies that support the sport, 20 percentage points higher than the average sports fan, according to a 2015 study released by Repucom. Edward Laukes, Toyota’s vice president of Marketing Communications and Motorsports, saw the evidence for himself in the parking lot at races.
“There wasn’t a Toyota to be found anywhere,” he recalled.
In the 2015 Sprint Cup series, Toyota earned more than $50 million in media value and 30 hours of time-on-screen during races, according to Repucom. That ranks third among all sponsors, behind Sprint ($120 million, 100 hours) and Chevrolet ($60 million, 35 hours), and ahead of Ford ($32 million, 15 hours).
Go to Bloomberg.com to read the article “How Toyota Used NASCAR to Sway Loyal American Car Buyers” in its entirety.