General Motors Halts Sponsorship for Nationwide, Truck Series

Already bankrupt automaker General Motors continues the restructuring process, this time outside the passenger car industry sector. The American manufacturer announced it will halt sponsorship for Nationwide and Truck teams as it struggles to cope with Chapter 11 protection and emerge as a new and more powerful entity.

According to a story by the SportsBusiness Journal quoted by nascar.com, Kevin Harvick Inc. - with teams in both aforementioned series - and Rusty Wallace Inc. and JR Motorsports - with teams in Nationwide - are the most affected by GM's decision as they received engines, parts and cash support from the American manufacturer.

Specifically, JR Motorsports achieved five victories in the 165 Nationwide races it participated in, while KHI has only four wins in 232 Nationwide starts and 19 victories in 205 Truck races.

"Chevrolet's involvement in racing is a sound business decision that translates directly into the sale of cars and trucks," a GM official was quoted as saying by SportsBusiness Journal.

"It is essential, however, that we continue to look at every penny we spend as General Motors takes the necessary steps to become a leaner company with a significantly stronger balance sheet. While Chevy Racing is talking to its business partners about ways to reduce cost and maximize the return on investment, it is our policy to not talk about the details of business relationships with our partners."

As said, General Motors is still fighting with bankruptcy in the United States but chief executives are already pointing to a bright future for the largest American automaker which might also mean the return of The General in the two aforementioned series.