Wednesday, April 1, 2009

BMW pulls the plug on Oracle Racing

In the current economic crisis the world over, that a car manufacturer is having difficulty in the North American market is hardly big news. But if that company is BMW, then you might take more notice: for 16 years straight BMW sales in this market have been consistently positive.

BMW sales declining by 24% with '09 February sales of 68,803, compared to 90,449 for the same period in 2008.

In a BMW press conference board members Dr. Klaus Draeger and Ian Robertson have communicated to the press. That they will no longer be apart of BMW Oracle Racing due to the decline in auto sales we decided to pull our sponsorship and wait until better economic times. With the America's Cup in the courts we feel that we are not getting the return on our investment. Oracle is in the process of removing all BMW logos from the hulls as the boat is in the tent for modifications.