Toyota Hires Velocity Sports & Entertainment for NASCAR Sponsorship
Toyota Motor Sales, U.S.A. has chosen Velocity Sports & Entertainment to drive activation of its sponsorship of the NASCAR Nextel Cup Series and the Busch Series, which begins next year.
The Norwalk, CT-based agency will rev up Toyota’s [http://www.toyota.com] marketing strategy in the sport, fuel activation programs, and assist more than 1,200 Toyota dealers to promote the Camry brand.
“We’re excited to add Velocity to our marketing team, and we’re looking forward to the expertise they’ll bring to Toyota and its dealers,” said Greg Gollands, national NASCAR marketing manager, Toyota in a statement. “Their knowledge and experience, as well as strategic thinking and execution, will definitely be an asset as we move forward with our NASCAR participation.”
Financial terms of the agreement were not disclosed.
Torrance, CA-based Toyota is expanding into the sport following three years of competing in the NASCAR Craftsman Truck Series where it promotes the Tundra brand. As a result, Toyota joins competitors Chevrolet, Dodge and Ford in NASCAR’s national series.
Beginning early next year, “we’re going to help build national consumer promotions and associate programs, which is a huge priority for Toyota,” said Reid Stewart, VP, Velocity.
Toyota’s agreement with Velocity stems from a consulting role the agency played during negotiations, which resulted in the automaker being named the Official Vehicle, Car and Truck of Lowe’s Motor Speedway in January, Stewart said.
The speedway is home to NASCAR’s All-Star Challenge and will serve as the centerpiece for Velocity to activate track-based events and experiential marketing campaigns and local and national promotions, Stewart said.
Meanwhile, to spearhead the interests of its NASCAR clients such as ConAgra Foods, FedEx and Vitaminwater, Velocity opened an office in Charlotte, home to NASCAR, yesterday (PROMO Xtra May 16, 2006).
Velocity ranked No. 2 in the 2005 PROMO 100 with estimated net revenues of $13.7 million for 2004.
