Carmakers Race Into Motor Sports. Does Anyone Care?
Everyone from Audi to Ford to Cadillac is trying to capitalize on Formula One’s popularity. But the investment in racing might not be enough to earn automakers what they want most: fans.
Ferrari celebrates its 24 Hours of Le Mans win in June
Photographer: Wan Mikhail Roslan/Getty Images
Jim Farley isn’t your average suit. Between board meetings and finance reviews, the chief executive officer of Ford Motor Co. goes racing. “I spend a lot of time sleeping and racing. Those are my only two private things I do,” Farley says after a win at the International Race of Champions exhibition at Laguna Seca in Salinas, California. Six weeks earlier, in France, he placed firmly midpack at the Mustang Challenge Le Mans Invitational.
Farley is the rare C-suite type to compete on the international stage, but he’s far from the only one eyeing industry prestige via the racetrack. Myriad niche racing series are attracting brands such as Aston Martin, Audi, Cadillac and Ford that are hoping to cash in on the newfound status and cultural capital of motor sports.