Departure of ‘Checo’ raises questions about the impact for Red Bull in Mexico • Business • Forbes Mexico

The departure of Sergio “Checo” Pérez from Red Bull not only marks the end of a chapter in the Mexican driver’s career, but also raises questions about the commercial impact that this decision could have on the Mexican market.

Since his arrival at Red Bull in 2021, “Checo” was key to guaranteeing good results on the track and became a brand ambassador in the country.

His presence contributed to increasing the interest of Mexicans in Formula 1, boosting the sale of tickets for the Mexican Grand Prix, as well as the consumption of Red Bull products.

According to data from Nielsen Sports, Sergio’s popularity has increased the number of Mexican Formula 1 fans by more than 40% since he joined the team, consolidating it as one of the most important emerging markets for the competition.

Lee: The best thing for ‘Checo’ is for him to leave F1 and enjoy his family, says his father

This also translated into greater income from local sponsorships and a strong presence of Red Bull in advertising campaigns.

Departure of ‘Checo’ could disconnect Mexicans from Red Bull

With the departure of “Checo”, Red Bull could face a disconnection with the Mexican fans who identified with the driver.

During recent years, Mexico has positioned itself as one of the most profitable markets for the company in Latin America, thanks to a combination of commercial strategies and the attractiveness of having a national driver among the elite of motorsports.

The Mexican Grand Prix has been awarded the best event of the year on several occasions since its return to the calendar in 2015, and much of that success is due to the enthusiasm that “Checo” Pérez generates among local fans.

Read: ‘Checo’ Pérez announces his departure from Red Bull

Without the Mexican in Red Bull, there could be a loss of general interest in the team, and it could be reflected in a lower participation of Mexican brands in Formula 1, as well as a decrease in the media reach of the event.

Although Red Bull has a solid global brand, the absence of a figure like “Checo” could force them to rethink their strategy in the country.

Meanwhile, the driver could also take fan loyalty to a new team or even explore other business opportunities outside of Formula 1.

Red Bull Racing loses more than 33,000 followers on the X network

After the separation of “Checo”, the Oracle Red Bull Racing account on the social network