© Steve Etherington for Mercedes-Benz Grand Prix Ltd.
Throughout 2020 there has been a lot of talk about Mercedes pulling out of Formula 1. Team boss Toto Wolff explains why F1 is still relevant for the brand.
The speculation about Mercedes’ future ended when the manufacturer signed the new Concorde Agreement, which reaffirmed their commitment to Formula 1. Toto Wolff explains the commercial benefits F1 brings to the brand.
“I think for Mercedes, because it is in our DNA, we build road cars and we build race cars and the first Mercedes was a race car, it is around our core product,” Wolff said.
“You can play branding and marketing on various platforms and many of them are successful platforms but motor racing is what we do because it is around the car.
“Formula 1 is the biggest sports platform, or one of the biggest sports platforms, in the world.
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“It generates more than a billion unique viewers each year; we are generating three and a half billion [dollars] of advertising equivalent for Mercedes and our partners, and it has the biggest global reach of any yearly championship.”
The Austrian also emphasizes the technological and branding benefits of Formula 1.
“If driving a car in the future is just a commodity and not an emotion any more, which I strongly disagree with because buying a car is an emotional decision, everybody does branding in a different way and this needs to be respected.
“For us, there is the technological edge that Formula 1 provides. It is the sporting and team spirit that we add to the brand.”
Source: gpfans.com
