It's not often that an advertising deal for a big insurance company or bank gets the world of pure sports cars seriously talking. In an era when too many automotive companies have chosen fashion shows as the main ‘lifestyle' marketing ploy, it's refreshing to see automotive events being finally, seriously reconsidered. So when the deal is between a bank and insurance company and one of the premier Formula One teams, that deal is certainly worth discussing.
Recently, ING Group - a global financial institution of Dutch origin offering banking, insurance and asset management - outlined its plans for its year two as one of Formula One's biggest sponsors.
During the January 31st launch of the ING Renault R28 Formula One car in Paris at Renault's communications headquarters in Boulogne-Billancourt, the ING Renault F1 Team officially launched its 2008 season and its driver line-up, including the only active double world champion, Fernando Alonso, and rookie Nelson Piquet Jr. - the son of the legendary Brazilian driver of the 1980's - who will make his debut in a Formula One race at the Australian Grand Prix, on March 16th.
With typical media fanfare, the ceremony was attended by Renault's President and CEO Carlos Ghosn along with 500 media and VIP guests from around the world, including Michel Tilmant, Chairman of the Executive Board of ING Group.
For ING, the deal is seen as a major move towards reinforcing the company's position as one of the leading sponsors in Formula One. ING will also have on-track branding at 13 of the 18 Grand Prix races, including title sponsorship of the Australian, Belgian and Hungarian Grand Prix.
So, what is it about the Formula One that makes such a deal desirable? In a business where trust and competence are the well-known, established attributes for a long-term success, being the dominant alpha player within your field, also requires a strategic vision of the future.
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STRATEGIC/MACRO DAILY INFORMATION for Canadian automotive business
TJAAautoinfo FASTWEBLINK
Tuesday - Sept. 07, 2010
FOCUS: The rise and fall in China's auto production and sales growth since 2006: Shifting Gears - Caixin
FOCUS II: BMW Chief Plans ‘Big Push' to Fend Off Audi, Mercedes - BusinessWeek
FOCUS III: Gordon Murray and his T.25 city car - Telegraph
ECONOMIC FUNDAMENTALS: Four unexpected US economic bright spots - Fortune
ECONOMIC
FUNDAMENTALS II:
Unemployment in U.S. May Rise Toward 10% on ‘Feeble' Growth - Bloomberg
CANADA
Tough rate call ahead for Mark Carney - Reportonbusiness
Canada Firms Plan to Add Jobs in Fourth Quarter, Manpower Says - Bloomberg
Unions' Labour Day bogey: Government cuts - CBC
INTERNATIONAL
NADA not happy with proposed fuel economy letter grades - Autobloggreen
Analysts: US auto sales recovery under way, but may take longer - DetroitNews
GM Powertrain Hungary to double capacity - Reuters
Audi's $66,000 A7 to Challenge BMW, Daimler for Luxury Lead - Bloomberg
Fritz Henderson Makes The Weirdest Career Move Ever - 24/7WallSt.
MMC, Peugeot to make electric cars in Spain - Reuters
Long Weekend - Sept. 04, 2010
FOCUS: Taxpayers likely to face initial loss on GM IPO - Reuters
ECONOMIC FUNDAMENTALS: Japan Has More Than Just a Yen Crisis - BusinessWeek
ECONOMIC FUNDAMENTALS II: U.S. Economy: Recession Concerns Ease on Private Jobs - Bloomberg
ECONOMIC FUNDAMENTALS III: EU austerity policies risk civil war in Greece, warns top German economist Dr Sinn - Telegraph
CANADA
Kia Canada to recall 4,500 cars - TheStar
UBS lowers estimates for Canadian GDP growth - FinancialPost
Canada Credit: Yield Forecasts Fall as Carney Prepares Meeting - Bloomberg
INTERNATIONAL
Study: Modern li-ion batteries have little effect on life cycle impact of electric cars - Autobloggreen
Chrysler takes the wraps off of 2011 Dodge Durango - DetroitNews
Movie Star, Car Buff Tim Allen New Voice for Chevy - WardsAuto
Oil eases on growth concerns and weaker storm - Reuters
Ford Settles With Minor Leaguer's Family After Losing Verdict - Bloomberg
Friday - Sept. 03, 2010
FOCUS: Opel: The achilles heel in GM's IPO - Fortune/CNNMoney
ECONOMIC FUNDAMENTALS: White House: No second stimulus being considered - Reuters
ECONOMIC FUNDAMENTALS II: China reserves 65% in dollars, 26% in euro - MarketWatch
CANADA
Canada's Dollar Drops as Risk ‘Orgy' Flags Before Jobs Report - Bloomberg
TSX on longest winning streak since February - FinancialPost
Canada's big five banks earn $4.8 billion in third quarter - TheStar
INTERNATIONAL
US Treasury mulls over foreign investors in GM IPO - Reuters
Toyota's US August Performance Worst in More Than Year - WardsAuto
US hybrid sales drop off for August; even Prius records a 37.5% decline - Autobloggreen
GM IPO tour timetable emerges - DetroitNews
Thursday - Sept. 02, 2010
FOCUS: Honda shares pass Toyota's on emerging market hope - Reuters
FOCUS II: How EPA's new fuel economy label would grade current cars - Autobloggreen
ECONOMIC FUNDAMENTALS: U.S. Avoids Recession as Data Can't Get Much Worse - Bloomberg
CANADA
Auto sales slow to a crawl - TheStar
Auto sales surge in Canada, slump in U.S. - Reportonbusiness
Electric car upswing would crash grid: Toronto Hydro chief - TheStar
INTERNATIONAL
German Aug. new-car registrations down 27% on year - MarketWatch
Continental picks banks for high-yield bond - Reuters
Toyota Leads U.S. Sales Drop on ‘Clunkers' Comparison - Bloomberg
Chevy's New Cruze Needs a Hard Sell - BusinessWeek
Ferrari 458 fires prompt global recall - Just-Auto
US Auto sales: Worst August since 1983 - CNNMoney
GM China Growth Slowest in 17 Months; Ford Sales Gain - Bloomberg
Wednesday - Sept. 01, 2010
FOCUS: Dan Akerson's first day at the top of GM - Fortune
FOCUS II: China's August Car Sales Increase 59%, Center Says - Bloomberg
FOCUS III: Feds investigate '11 Hyundai Sonata for steering issues - DetroitNews
ECONOMIC FUNDAMENTALS: The Knightian dog ate my recovery - Reuters
CANADA
Court clears Magna's $1B Stronach payout - FinancialPost
Auto Parts: Onex, CPPIB to delist Tomkins in London - Reportonbusiness
Ontario auto insurance reforms take effect Wednesday - TheStar
Canada's economic growth slows in Q2 - CBC
Canada's Dollar Falls to Eight-Week Low as Economic Pace Slows - Bloomberg
INTERNATIONAL
Visteon cleared to exit bankruptcy -DetroitNews
Tesla Roadster qualifies for Japan EV rebates - Reuters
Old GM, Motors Liquidation, files plan to revamp - MarketWatch
Japan Vehicle Sales Rise Most Since 1972 on Subsidy - Bloomberg
Hyundai Motor August sales dip due to holidays - Reuters
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