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Published: May 14, 2008 12:30 AM
Modified: May 14, 2008 02:43 AM
 

Racing fans feel pinch

Gas, harder times curtail spending

CONCORD - For another sign of how surging gas prices and the slumping economy shape consumer spending, consider a tale of two races this month at Lowe's Motor Speedway.

Ticket sales are ahead of last year's pace for Saturday's Sprint All-Star Race, a shorter, cheaper event that usually draws fans in the Carolinas.

Demand is down, however, for the more expensive Coca-Cola 600, which brings people from across the U.S. to the speedway each Sunday of Memorial Day weekend.

Without question, NASCAR remains a big draw, with some Sprint Cup races selling out this season. But the owners of tracks that have hosted races in recent months have seen drop-offs in crowds and ticket sales.

Speedway Motorsports, which owns Lowe's Motor Speedway, reported a dip in admissions revenue in the first three months of this year. Bad weather was partly to blame, but the company said gas prices and the credit crunch have slowed fans' spending.

And, some who do make it to this month's races may not pump as much money into the local economy, hoping to offset the cost of getting to North Carolina.

Mike Meyers pulled his Dodge pickup and 32-foot Montana trailer into a camping space near the speedway Monday afternoon, driving more than 1,000 miles from Attica, N.Y., by way of Asheville, where he and his wife, Gabe, visited family last week.

The couple has come to Concord every May since 1999, Meyers said, but has never watched costs more than this year.

With diesel prices adding another dollar per gallon to his gas bill, Meyers, 57, said he already has cut back on other camping trips and NASCAR races, and expects to spend less at restaurants and gift shops.

"You've got to save somewhere," said Meyers, a substitute school bus driver who recently retired from Eastman Kodak after 31 years.

"We're bringing more food, eating out less," he said, and T-shirts and caps also are out.

Lowe's Motor Speedway can hold 165,000 fans, making it one of NASCAR's largest venues. Due in part to that massive size, the Coca-Cola 600 in recent years hasn't been a sellout despite strong crowds, said Scott Cooper, a speedway spokesman.

The average NASCAR fan drives about 400 miles round-trip for a race, Cooper said. With a car or sport utility vehicle, the difference in gas costs from last year is maybe $50, he said.

NASCAR has endured other economic downturns, said H.A. "Humpy" Wheeler, president and general manager of Lowe's Motor Speedway. People still want to pay for entertainment, if only to take their minds off their troubles, he said.

It helps when a sport lets fans park free and bring their own food and drinks to races. Even so, "there's a price sensitivity we haven't seen before," Wheeler said, adding, "I see no real letup the rest of the year."

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