For the past decade or so, NASCAR has had three primary manufacturers: Chevrolet, Ford, and Toyota. Now, there has been speculation about another manufacturer joining the trio. Apparently, one of the favorites to join is Japanese automobile giant Honda. According to NASCAR President Steve Phelps, they are holding talks for a fourth OEM but have stopped short of naming Honda.

In a hypothetical scenario, though, how would Honda’s entry affect NASCAR? Especially considering that NASCAR has its own charter system, one has to wonder if Honda will have to convince teams to switch to them. Would any team be willing to take a gamble on a brand-new manufacturer? Additionally, how many charters can Honda actually afford to take? Furthermore, would any of the existing manufacturers be willing to let go of any of the teams on their roster?

How would the NASCAR charter system work with Honda in the mix?

Some suggestions were that NASCAR would put up four new charters for sale at market price. Of course, there will be concerns from existing teams about the addition of new charters. In essence, more teams would mean that revenue distribution would be higher. Furthermore, NASCAR would have to compensate the existing charters for the lowered revenue.

Steve Phelps even admitted that NASCAR can use its discretion to add one or two charters to help jump-start an OEM. In all, Honda has everything going for it to enter the NASCAR arena. What may also work in its favor, is the fact that the charter agreement has yet to be renewed. Since the teams have allowed the negotiation window to expire, Honda can assess the situation and see what suits them the best.

Honda has a history of American motor racing

Although Honda is a Japanese manufacturer, it does boast a foothold in the American motorsport scene. Most of the time, it has been plying its trade in the IndyCar Series, and has been hugely successful. As it happens, Honda has clinched 13 drivers and 6 manufacturers’ titles in its long and storied career. Chevrolet is two behind with eight drivers and nine manufacturers’ titles.

READ MORE: NASCAR More or Less Confirms the Addition of Honda in the Manufacturers Portfolio

Unfortunately, it appears that Honda has been growing increasingly dissatisfied with IndyCar. Owing to concerns about costs, the Japanese giants may be considering exiting the series by 2026. Before this happens, Honda could go into two schools of thought.

First and foremost, they could potentially think about a return to Formula One. The second option on the table could be to really explore the NASCAR arena. Who knows, maybe Chevrolet, Ford, and Toyota may actually welcome them, something that F1 didn’t do with Andretti.