Foresight Research: Motorsports – It’s Bigger than you Think

ROCHESTER, Mich., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Everybody knows that motorsports is thrilling, suspenseful and fun, but did you know that motorsports influenced 1 out of 4 new vehicle buyers in choosing their new vehicle! “The reach of motorsports is impressive – more than one third of all new vehicle buyers watched or attended races” noted Steve Bruyn CEO of Foresight Research. He went on to say, “In 2013 4% of the auto buyers were influenced to purchase by motorsports – now that number is 24% – a 600% increase”.

With input from clients, the 2023 Motorsport report has been totally retooled. This year Foresight Research focused on top sanctioning bodies, electric vehicle racing, selling new vehicles and ROI.

Motorsports fans are a dream come true! Young men with money and 2 out of 3 influence other people’s car or truck purchase! They are great brand ambassadors. More than 60% have incomes over $100k and 9 out of 10 say they find it easy to spend it.   That is why motorsports fans buy luxury brands and premium non luxury vehicles in big numbers. Half are first time buyers (the key to brand building) and a whopping 6 out of 10 considered or bought a battery electric vehicle (BEV). All these metrics are significantly higher than industry norms.

Beyond that, Motorsports is more than marketing. 6 out of 10 say that motorsports is a great testing ground for developing safety features and improving automotive performance. And a whopping 95% of motorsports fans have or will buy automotive accessories – spending thousands of dollars.

The 2023 Motorsports Immersion report focusses on top sanctioning bodies – what do sanctioning body races bring to the party. The report also explores automotive accessories – how many accessorize, what categories of accessories they buy and how much they spend.   Finally, since electric vehicles are becoming more important, a deep dive into electric vehicle racing – Formula E - is analyzed.

Get this report and get involved in motorsports – it is a huge and growing opportunity for Sales, Marketing, Accessory Sales, and Product Devotement.

Foresight Research surveyed over 4,700 recent new car and truck buyers. The 2023 Motorsports Immersion Report™ is one of many syndicated reports and custom analyses generated from the annual CHIPS database. CHIPS reports on 16 marketing channels but concentrates on: public relations, sponsored events, motorsports, auto shows, as well as automotive accessories.

Bob Longstreth        
Foresight Research
248.425.7920 (M) 248.608.1870 x 18 (O)