COMMENTARY
Auto racing, which for more than a century has promoted the auto industry, is confronting an uncertain future.
Once upon a time (say the 1990s and 2000s), NASCAR seemed invincible.
It hasn’t turned out that way.
--International Speedway Corp., controlled by the France family that owns NASCAR, developed an oval track in Joliet, Illinois. At this point, however, the Joliet track doesn’t conduct a NASCAR race. Joliet hasn’t had a NASCAR event since 2020. NASCAR now is having a street race in Chicago.
--California Speedway, originally developed by Roger Penske and owned by International Speedway Corp. has run its final NASCAR event near Los Angeles in its current form. Much of the land has been sold. A new, shorter, course is to be built on the site in the future.
Uncertainty extends beyond stock car racing.
--The Hulman-George family, the longtime owner of the Indianapolis Motor Speedway, threw up the white flag. It sold the iconic facility to Roger Penske in 2019. The question is whether that’s a long-range solution. Penske turned 86 in February.
--Auto racing generally is adapting to a drive for zero-emission vehicles. Regulators in Asia, Europe and the U.S. are pushing the move to go electric. F-1, the global auto racing leader, is resisting going electric, saying the answer is to stick with internal combustion and use new synthetic fuels in development. There already is a Formula E series of electric racing cars.
Sixty years ago, auto racing seemed exotic. Open wheel racing underwent a switch to rear-engine cars. For a time, there was technology such as turbine engines. There still is sophisticated technology but it’s not as obvious or dramatic.
At Indianapolis what happens after Roger Penske leaves the scene? The Indianapolis Speedway is valuable real estate. The facility is less than 10 miles from downtown Indianapolis. Can the track survive as a racing facility in the long term? California Speedway is getting downsized because its land was so valuable.
More broadly speaking, what happens with auto racing amid industry shifts? It’s an open question.
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