Reports of NASCAR's demise have been greatly exaggerated. Yes, the National Association for Stock Car Auto Racing, to give it its full title, is suffering a decline in sponsorship, attendance and financial stability. And yes, earlier this year, Richard Petty's venerable team was forced to merge to survive. Indeed, all the major motor racing series – NASCAR, IndyCar, Formula One and NHRA drag racing – are undergoing their own form of reinvention because of the slumping economy, just as other businesses and consumers are making big spending changes to weather the downturn.
