KFDA - NewsChannel 10 / Amarillo, TX: newschannel10.comAdvance Auto to drop sponsorship of NHRA team
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ROANOKE, Va. (AP) - Advance Auto Parts Inc. said Friday that it will not renew its partnership with National Hot Rod Association driver Cruz Pedregon and that its contract with his team will end on Dec. 31.
The auto parts retailer said the decision was made as part of a review of its marketing efforts. The company said it will continue to focus its marketing efforts on building its do-it-yourself business and supporting the growth of its commercial business.
Pedregon said his team is searching for a replacement sponsor in hopes of being able to compete next season.
Founded in 1951, the Glendora, Calif.-based NHRA bills itself as the world's largest drag racing organization.
Advance Auto shares rose 16 cents to $37.41 in midday trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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