V8 supercar racing8/27/2023 ![]() The V8 Supercar SWOT rightly identifies lots of strengths - including great product Ford v. These exercises are obviously valuable, as they make the parties concerned focus on, as we mentioned earlier, their strengths and their weaknesses and the opportunities as well as the threats. Anyway, that's the V8 Supercar "economy". taxpayer monies - going into V8 Supercar racing.Īnd most of that into street races, which have to be set up every year, rather than permanent venues which can be used all year round for many forms of motorsport. Which would still mean more than $20 million of other government funding - i.e. Those two events may have accounted, by our guess, for as much as $45-50 million of the $71 million. Those two events involved a lot of government money upfront in construction and infrastructure costs. Now that's an astronomical figure, and equally an astronomical percentage - although the figure is believable for last year, which saw the new Townsville and Sydney street races run for the first time. Government support of $71 million represents 16.66 per cent of the V8 Supercar "economy". ![]() That's the biggest item of the six, and it's a non-event turnover! Bigger than the $110 million "turnover"! Almost five times the merchandise sales of the teams! ![]() But let's just take a quick look at the numbers as they are.įirstly, it looks very odd that 27.7 per cent of the V8 Supercar "economy" - or $118 million - is "Non-V8SC event turnover". We wonder if there isn't a bit, perhaps quite a bit, of the old double-counting in all of this. Perhaps a little (maybe a lot) too startling. Now we all know that V8 Supercars is a big sport - certainly the biggest motorsport category in Australia. These numbers, according to V8SA, do not include "event regional economic benefits", "sponsor-team leveraging", and "other media and merchandising". Television advertising revenue $30 million Here they are, with the values V8SA claims for each: V8SA breaks its $426 million for last year down into six categories. This is, kind of, the V8 Supercar equivalent of Australia's gross domestic product, or GDP. And "economy" of $426 million, it reckons. We'll come back to that in a moment, but V8SA's SWOT analysis - which we've had the benefit of reading - ought to be considered against the background of what it reckons is its sport's annual "economy". If the starting point of a SWOT analysis is specifying the objective of the venture or project, V8SA's clearly was to reduce the cost of building a V8 Supercar and to create regulations that might entice makes of car other than Holden Commodores and Ford Falcons to participate from 2012. And threats are external conditions which could do damage to the objective(s). Opportunities are external conditions that are helpful to achieving the objective(s). Weaknesses are the attributes of the person or company that are harmful to achieving the objective(s). ![]() Strengths are the attributes of the person or company that are helpful to achieving the objective(s). And that a SWOT analysis starts with defining a desired end state or objective, and that the analysis may be incorporated into a strategic planning model. It told us that a SWOT analysis involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. For those unfamiliar with such things there are plenty of places to go on the internet for information, but Wikipedia was sufficient for our purposes. Why mention that at the start of a motorsport column?īecause V8 Supercars Australia has done a SWOT analysis as part of its Car of the Future project. Premier category tallies its plusses and minusesĪ SWOT analysis is a strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture.
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