Dodge plans to remain involved in NASCAR for the foreseeable future despite Thursday's announcement that parent company Chrysler has filed for bankruptcy.
The manufacturer had been struggling for months, surviving on loans from the federal government and had been given a deadline by the Obama administration to come up with a restructuring plan. However, the American company failed to meet those demands and has filed for bankruptcy protection in New York.
Despite that, Mike Accavitti, Chrysler's director of brand marketing and strategy for Dodge Motorsports, said they plan to remain involved in NASCAR though their Dodge brand for now.
Fiat is expected to become a majority owner of Chrysler under the restructuring the company will be subject of during the next month.
"The partnership not only will transform Chrysler into a new, stronger car company with many strategic advantages, it will enable the company to better serve our customers with a broader and more comprehensive lineup of vehicles," said Accavitti. "NASCAR is a strategic part of our marketing plan and the Dodge brand. We plan to continue our Dodge sponsorship and relationship into the foreseeable future."
General Motors has been given June 1 as the deadline by the U.S. government to come up with their own plan to bring costs down. They have already announced layoffs, they plan to shut down factories and have even offered a majority stake of the company to the federal government. However, there has been no word as to how their plan will affect their involvement in NASCAR, if at all.