Tariffs “Will Have a Significant Impact” on NASCAR Team Owner’s Company

What’s Happening?

In a recent statement, Haas Automation, owned by NASCAR team owner Gene Haas, claims that the tariffs “will have a significant impact” on its business operations.

• In this statement, Haas Automation claims that they have seen a “dramatic decrease in demand for our machine tools from both domestic and foreign customers.” As a result, they have cut overtime at their California manufacturing plant and put a pause on hiring.
• The company, which produces machine tools, claims to be “optimistic” about finding solutions for these issues. By its own account, Haas Automation “is the largest machine tool builder in the Western world and claims in this statement that its California plant currently employs 1700 workers.
• Haas founded the company in 1983 and has been involved in racing for the better part of two decades. Throughout his time as a team owner, Haas Automation played as a significant sponsor of his entries, having sponsored his cars with the brand since 2002.
• Haas Automation currently sponsors Haas’ NASCAR team, the Haas Factory Team, which fields one entry in the Cup Series and two in the Xfinity Series. The company also sponsors its Formula One team, the Haas F1 Team, and its drivers Esteban Ocon and Oliver Bearman.

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