In any business, a barometer is a critical tool that analyzes industry trends and provides a forecast to predict what is on the horizon. We are pleased to announce PRI’s own barometer with the first official “2024 State of the Racing Market Report,” which provides industry-specific data to guide PRI Members to stay competitive and grow their businesses.
Veteran PRI Magazine readers will recall the annual Motorsports Retail Business Survey that was produced by the PRI Editorial team and appeared annually in our pages. However, that was just a smaller snapshot of the industry compared to this new market report produced by the PRI Market Research team, led by Gavin Knapp, with help from Matt Byun, who used their tremendous resources and expansive database to reach out to thousands of PRI Members to get their take on what is going well in the industry, and what areas may need some work.
Some highlights:
• Track-use motorsports parts accounted for more than $8 billion in US sales in 2023.
• 76% of racing businesses view the racing market as either stable or on the rise.
• 47% of racing parts resellers experienced sales growth, and 51% anticipate their sales will grow over the next year.
Next month’s issue of PRI Magazine will offer additional coverage of the Report. In the meantime, PRI Business and Individual Members can download the full report by using their individual login to access their member portal at performanceracing.com. Once logged in, the report can be found by clicking “My Benefits.”

Out & About: As I write this column, I just returned from the West Coast Stock Car Motorsports Hall of Fame Induction Ceremony as it honored its Class of 2024. Ken Clapp and his team produced a memorable and well-done presentation that honored Dick Cobb, Eric Holmes, Jimmie Johnson, Jimmy Vasser, Cal Wells, Joe Huffaker, Emmett Malloy, Tom Malloy, Paula Murphy, Bob Swanson, Ernie Triplett, Frank Lockhart, Fred Frame, Jack Dill, Jimmy Murphy, Johnny Boyd, Louis Vermeil, Rex Mays, Ted Horn, Ralph Sheheen, and PRI Founder Steve Lewis. What a wonderful celebration of these motorsports innovators.
While in Sonoma, the PRI Team attended the ARCA and NASCAR events at Sonoma Raceway. We had the pleasure to interact with numerous industry members, which only confirmed, “A bad day at the track is better than a good day in the office.” How truly blessed we are to be in an industry for which we all exude such passion and commitment with the goal of bettering our sport.