Led Zeppelin’s song ‘How many more times’ must be playing in Alex Bowman’s head at present. What hasn’t the Hendrick Motorsports driver faced? He suffered a concussion in 2022 that sidelined him for five races and a 2023 Sprint Car accident broke his back and shuttled three races. 2024 looked like his comeback year after winning in Chicago. But an unforeseen DQ in the playoffs chucked his ambitions out of the window.

Bowman endured all this while tackling rumors about occupying the ‘hot seat’, on his team. Now it seems he may throw his phone in the pool again. $10.85 Billion bank holding company Ally has been a long-time sponsor of the No. 48 Chevrolet, working with Bowman since 2018. However, the benefactor faces hiccups – sparking speculation about Bowman’s fate.

Alex Bowman booked for another storm?

Until July 2024, one HMS driver was in the spotlight. For all the wrong reasons, though, as Alex Bowman was grappling with an 80-race winless streak. His past two seasons were peppered with crippling accidents, and doubts crept up over his HMS career. However, his team and sponsor Ally believed in him – and Bowman fetched his 8th career victory at the Chicago Street Race. Another bout of misgivings set in later – yet Bowman answered by being the highest points-achiever in the playoffs. That glory lasted until Joey Logano occupied his seat for the Round of 8 after a post-race weight inspection penalty. Now the driver cannot even start the new year in peace.

Bowman’s sponsor Ally recently posted a concerning update about its economic situation. The Detroit-based company is facing credit challenges across its divisions, which has led to drastic steps. Journalist Adam Stern updated on X: “Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have struggled to pay down costly debt.” 

The firm had about 11,100 employees at the end of 2023, and will now cut less than 5% of its workforce. Problems are piling up, especially in its well-known auto-lending businesses.

According to Chief Financial Officer Russ Hutchinson, the cost of living has led to higher debt costs for US consumers. Ally is considering whether to increase the reserves needed to cover souring loans. The layoffs and dire economic scenario should ring alarm bells for Alex Bowman, who has relied on Ally for years. Hutchinson tried to offer hope for the spiraling situation. “We remain confident in our long-term strategy and our ability to deliver compelling returns given the strong underlying trends in our core businesses.” 

Despite these optimistic words, Bowman may be at risk – especially after a long string of poor race finishes in the past few years. The NASCAR community is worried as well.

Fans drop ominous warnings

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Although Alex Bowman broke an 80-race winless skid in Chicago, his other results stood out. He could record only one top-five finish in the five race-streak before Chicago. The team had an engine problem in New Hampshire, that left them last in the 36-car field. Such instances of misfortune do not look good on his resume – something that Ally will remember.

So fans stirred up another rumor cycle, like the one that started after Brett Griffin’s comment in September. “Alex Bowman: they didn’t say s–t about auto loans,” someone wrote.

Bowman’s luck turned upside down at Charlotte Motor Speedway and NASCAR disqualified him for his light vehicle. One fan said the aftermath of that incident may happen again. “Let’s hope Alex doesn’t throw his phone in the pool again when Ally Financial announces they’re ending his sponsorship.”

The only way out of this would be for Alex Bowman to perform well. The No. 48 Chevrolet was on a good streak at the end of 2024 – he recorded five top-ten finishes in the playoffs. Somebody wrote that Bowman needs to continue that trend: “Bowman had better have a damn great 2025 season.” Hendrick Motorsports has signed Bowman through 2026, and Ally has agreed to sponsor him till 2028. However, a fan painted a scenario where the racer will drive in different colors in 2026. “Bowman about to run a purple HendrickCars.com scheme in 2026 confirmed.”

Another section of the community still has faith in Alex Bowman. They shut down the doubters and said they were overestimating the impact of Ally’s economic situation. One fan wrote how the company relies on Rick Hendrick immensely: “Hendrick gives Ally a HUGE amount of business. They won’t cut ties with him until the end times are near.” 

Somebody else quipped that Bowman has enough potential to prove himself again. “Think yall are overreacting. Even if Bowman is dropped from HMS, he won’t be out of cup. He’s proven to be a solid driver and he’ll find a ride.”

Evidently, the community is rife with speculation about Alex Bowman’s future. Let us wait and see if Ally’s situation affects him or not.