Toyota’s $3.8 Million Bill Leaves Ford & Anheuser-Busch in the Dust as Reports Reveal NASCAR’s Spenders List

The importance of financial backing in NASCAR cannot be overstated. It’s impossible for a driver to be a part of the sport if they do not have a sponsor backing them and at the Cup Series, the expenses are just that much. Such is the importance of sponsors. A recent report revealed the companies that spent the most in the 2023 season, and engine manufacturer Toyota tops the list.

One would not be wrong to think that the engine manufacturers are the highest spending companies each year in the sport. After all, they are the ones competing against one another for the big prize, so investment from them would only be natural. However, apart from Toyota, that has not been the case.

Ford achieved NASCAR series sweep without spending too much

In 2023, Toyota spent the most out of the 3 manufacturers, with $3.8 million. Ford came in a distant tenth place with $1.8 million and Chevrolet was not even on the list of the top 10 highest spending companies. The report was shared on Twitter by eminent NASCAR journalist Adam Stern.

A lot of credit must go to Ford as they were the dominant manufacturer last season without spending the most money. The manufacturer enjoyed a clean sweep as its teams won the Cup, Xfinity, and Truck Series. In the Cup, it was back-to-back wins thanks to Ryan Blaney becoming the champion with Team Penske.

Anheuser-Busch, one of the biggest sponsors that the sport has today, is also not near the top of the list. Busch Beer sits in a joint 6th place with Wendy’s at $2.2 million. After Toyota, the highest-spending company in NASCAR in 2023 is Geico, with expenses adding up to $3.5 million. Paxlovid and Progressive are joint third at $2.6 million. Coke Zero and Ram are not far behind as they both spent $2.5 million on the sport last year and the last inclusion in the top 10 list is eBay, which sits in ninth with $2 million.

Not only did Toyota spend the most last season, but they have recently re-signed a new deal with SiriusXM to be partners for the 2024 season. The company will sponsor Ty Gibbs of Joe Gibbs Racing and Tyler Reddick of 23XI Racing for multiple races in the coming months.

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Toyota bags new sponsor for Tyler Reddick and Ty Gibbs

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John Zavisa, Senior Vice President of Automotive Partnerships at SiriusXM said that they were excited to sponsor the #54 and the #45 this year. SiriusXM and NASCAR are two companies that are almost synonymous with each other. The media outlet has been a go-to for racing fans for all things NASCAR for quite some time now. They have interviewed several drivers and high-ranking officials in the sport over the years as well.

“We are very proud of our long-standing relationship with Toyota and are excited to be back with Toyota Racing for the 2024 NASCAR season. We look forward to seeing the new SiriusXM colors and logo on Ty Gibbs’ No. 54 and Tyler Reddick’s No. 45 Toyota Camry this season,” he said according to Jayski’s Silly Season Site.

It will be interesting to see how the SiriusXM logo will look on both the JGR and the 23XI cars. The latter is known for having some of the most epic paint schemes in the history of the sport. It will definitely be something to watch out for on track.

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