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State of Industry Survey Results

The USMA appreciates the hundreds that responded to our short State of the Industry Survey last month.  Understanding your challenges helps us to focus on the issues that matter most.  Here’s what you had to say…

Who took the Survey?  

  • Business Owners - 29.8%

  • Racers - 23.7%

  • Leadership Role in a Company - 16.8%

  • Race Track Owner - 14.5%

  • Other (freelancer/industry participant) - 15.2%

  • Nearly 52% are facing workforce challenges, 45% are not.

  • The top workforce challenges are finding skilled labor, 75.3%. 2nd place was salary demands/costs.

  • The current economy is negatively impacting 51.9% with 40.5% having a positive impact with the current economy.

  • The majority of the industry, 56.5%, is “uncertain” about the future of the economy.

  • 76.3% of Race Tracks are NOT utilizing local/state government and tourism for funding, promotion and general support.  This is a big one for the USMA.  If this number were reversed it could have a huge positive impact on our industry.  The USMA is here to help you get engaged and gain the benefits that are out there.  Contact us!

The Top 5 Marketing Methods that have proven success were:

  • Word of Mouth - 72.6%

  • Social Media (Original Organic Content, Not Paid) - 50.8%

  • Traditional Branding / Sponsorship - 42.7%

  • Trade Shows/Seminars - 39.5%  

  • Live Event Displays & Activations - 36.3%

Top 5 Challenges currently facing the Motorsports Industry:

  • Increased Cost for Good/Services

  • Rapidly Rising Costs for Racing Parts & Travel 

  • Governmental Overreach and Lack of Government Support

  • Lack of unity across the industry with schedules, rules, etc. 

  • Attracting the next generation of fans.

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