No more AVESCO.

AVESCO has ceased to be. The Australian Vee Eight Supercar Company, AVESCO, governing body of the Australian V8 Supercar Series has now completed the formal name change to V8 Supercars Australia.

"The acronym AVESCO is still unfamiliar to a lot of people but the moment you mention V8 Supercars people of all walks identify with it immediately," explains former AVESCO chairman, Tony Cochrane.

"The international Motorsport community particularly in China and Europe are becoming very familiar with our product and know the name V8 Supercars. They are not generally familiar with AVESCO until the acronym is further explained," continues the V8 Supercars Australia chairman.

Cochrane reckons the name is the only change, and everything else is progressing very well indeed for the V8 series.

"V8 Supercars could not be in better shape. Numbers across the board are up by 10 per cent or more and we are achieving our goals each year. The name change does not mean any structural change to the business," he explains.

"It is a step forward in our brand awareness in Australia and overseas. By changing our trademark name the hope is that it will become synonymous around the world. We also wanted to ensure our sport remains uniquely Australian."