NASCAR’s long-anticipated arrival of a fourth manufacturer has hit a major roadblock. Honda, who was rumored to join the sport as a new OEM, now faces an uncertain future after its high-profile merger with Nissan collapsed. Has the latest setback simply delayed the Japanese manufacturer’s eventual arrival or forced the sanctioning body to start its search for a new manufacturer from scratch? With Chevy, Ford, and Toyota already in the mix, getting another carmaker on board is a major priority for the sanctioning body to safeguard the sports’ future.

Despite the latest hitch, NASCAR President Steve Phelps remains optimistic about adding a fourth OEM. With robust discussions already underway, the motorsports executive believes it’s only a matter of time before the stars align and talks go across the finish line.

Steve Phelps remains bullish despite OEM uncertainty

The rumors have been circulating for years. From Dodge to Honda, several carmakers have been linked to the fourth OEM role in the NASCAR world in recent years. Last year, NASCAR COO Steve O’Donnell said negotiations to welcome a new carmaker were “heating up” ahead of the Daytona 500, and one year later, it seems like the sanctioning body remains in the same position. NASCAR has struggled to replace Dodge since they departed from the sport in 2012 following Brad Keselowski’s Championship and Penske’s switch to Ford.

Despite it all, NASCAR President Steve Phelps has an optimistic appraisal of the situation. He said, “We are having robust discussions with a number of [original equipment] partners that someday, if I had to guess and were a betting man, something is going to hit. I just don’t know with whom or the timing of that. I know that’s an answer I’ve given repeatedly over the last five years, but they’re facts. There’s no BS in the comment I just made.”

Despite multiple discussions, why is the process taking so long? Well, there are multiple reasons. Firstly, NASCAR uses V8 engines for its cars, which are not produced by every carmaker. A significant investment will need to be made to develop a competitive Cup Series car, with plenty of R&D going into the design and build of the vehicle that can comply with the sanctioning body’s strict specifications. There are also recurring costs related to operations, marketing, and sponsorship, which can amount to millions of dollars.

Carmakers also have to look at it from an ROI (Return on Investment) point of view. In a world geared towards electric vehicles, would participating in NASCAR suit their brand image for the future? Chevrolet, Ford, and Toyota already have a foothold in the sport because of their long history, and any new OEM joining in could struggle to find their place in the stock car racing world. Despite it all, Phelps’ optimism about having a fourth manufacturer on board is justified, given that NASCAR is a more attractive destination now than ever.

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NASCAR’s upward trajectory might convince automakers to take the gamble

Interest in NASCAR is at an all-time high. In recent years, the sport signed a multi-billion dollar deal with NBC, Fox, Amazon, and Warner Bros Discovery to secure the media rights for the sport until 2031. The sanctioning body has also safeguarded its long-term future after 13 out of 15 teams signed the final charter proposal ahead of the opening playoff race at Atlanta Motor Speedway in 2024. The 2025 season will also feature their first international points-paying race in modern history, held at Autódromo Hermanos Rodríguez in Mexico City.

With plenty of positives to look forward to, why wouldn’t carmakers want to join NASCAR? Echoing the sentiment, Phelps said that before 2019, “We were finding some difficulties because [the car industry] believed that we were in some distress, we were declining. And now we’re not, with a different relevance, different reputation to the brand, some modest growth in television, attendance has come back, so there are things that are positive now that make it attractive for OEM brands around the world to say, ‘Wow, how about NASCAR? That’s interesting for us.’”

While nothing is guaranteed in the world of motorsports, Steve Phelps’ optimism isn’t misplaced in this instance. There has never been a better time for carmakers to join the world of NASCAR, considering that the sport has been on the rise in recent years. Despite the Honda-Nissan merger now dead, could the Japanese company pursue the sport independently, or will financial instability delay or end their stock car racing project once and for all? Time will tell. However, it seems like the sanctioning body is in talks with several OEMS at the moment, and only one needs to work out to safeguard the sports’ future.