Early stock car racing

In the 1920s and 1930s, Daytona Beach became known as the place to set world land speed records, supplanting France and Belgium as the preferred location for land speed records, with 8 consecutive world records set between 1927 and 1935. After a historic race between Ransom Olds and Alexander Winton in 1903, the beach became a mecca for racing enthusiasts and fifteen records were set on what became the Daytona Beach road course between 1905 and 1935. By the time the Bonneville Salt Flats became the premier location for pursuit of land speed records, in 1936, Daytona beach had become synonymous with fast cars. Drivers raced a 1.5 to 2-mile stretch of beach as one straightaway and beachfront highway A1A as the other.

Stock car racing in the United States has its origins in bootlegging during Prohibition, when drivers ran bootleg whiskey made in Appalachia region of the United States. Bootleggers needed to distribute their illicit products, and they typically used small, fast vehicles to better evade the police. Many of the drivers would modify their cars for speed and handling, as well as increased cargo capacity, and some of them came to love the fast-paced driving down twisty mountain roads. One of the main 'strips' in Knoxville, Tennessee, had its beginning as a mecca for aspiring bootlegging drivers.

The repeal of Prohibition in 1933 dried up some of their business, but by then Southerners had developed a taste for moonshine, and a number of the drivers continued "runnin' shine," this time evading the "revenuers" who were attempting to tax their operations. The cars continued to improve, and by the late 1940s, races featuring these cars were being run for pride and profit. These races were popular entertainment in the rural Southern United States, and they are most closely associated with the Wilkes County region of North Carolina. Most races in those days were of modified cars. Street vehicles were lightened and reinforced.

Strictly Stock to Grand National

The first NASCAR "Strictly Stock" race ever was held at Charlotte Speedway on June 19, 1949, a race won by Jim Roper after Glenn Dunnaway was disqualified after the discovery of his altered rear springs. Initially, the cars were known as the "Strictly Stock Division" and raced with virtually no modifications on the factory models. This division was renamed "Grand National" beginning in the 1950 season. However, over a period of about a dozen years, modifications for both safety and performance were allowed and, by the mid-1960s, the vehicles were purpose-built race cars with a stock-appearing body.

One of the tracks used in the inaugural season is still on today's premier circuit: Martinsville Speedway. Another old track which is still in use is Darlington Raceway, which opened in 1950.

Most races were on half-mile to one-mile oval tracks. However, the first "superspeedway" was built in Darlington, South Carolina, in 1950. This track at 1.366 miles, was wider, faster and higher-banked than the racers had seen. Darlington was the premier event of the series until 1959. Daytona International Speedway, a 2.5-mile high-banked track, opened in 1959, and became the icon of the sport. The track was built on a swamp, so France took a huge risk in building the track.

The first NASCAR competition held outside of the U.S. was in Canada, where on July 1, 1952, Buddy Shuman won a 200-lap race on a half-mile dirt track in Stamford Park, Ontario, near Niagara Falls.

Beginning of the modern era

NASCAR made major changes in its structure in the early 1970s. The top series found sponsorship from R. J. Reynolds Tobacco Company. Tobacco companies, which had been banned from television advertising, found a popular and demographically suitable consumer base in NASCAR fans and engaged NASCAR as a promotional outlet. As a result of that sponsorship, the Grand National Series became known as the Winston Cup Series starting in 1971, with a new points system and some significant cash benefits to compete for championship points. In 1972, the NASCAR season was shortened from 48 races to 31. 1972 is often acknowledged as the beginning of NASCAR's "modern era". The next competitive level, called Late Model Sportsman, gained the "Grand National" title passed down from the top division and soon found a sponsor in Busch Beer.

ABC Sports aired partial or full live telecasts of Grand National races from Talladega, North Wilkesboro, Darlington, Charlotte, and Nashville in 1970. These events were less exciting than many GN races, and ABC abandoned live coverage. Races were instead broadcast, delayed and edited, on the ABC sports variety show "Wide World of Sports."

Finally, in 1979, the Daytona 500 became the first stock car race that was nationally televised from flag to flag on CBS. The leaders going into the last lap, Cale Yarborough and Donnie Allison, wrecked on the backstretch while dicing for the lead, allowing Richard Petty to pass them both and win the race. Immediately, Yarborough, Allison, and Allison's brother Bobby were engaged in a fistfight on national television. This underlined the drama and emotion of the sport and increased its broadcast marketability. Luckily for NASCAR, the race coincided with a major snowstorm along the United States' eastern seaboard, successfully introducing much of the captive audience to the sport.

The beginning of the modern era also brought a change in the competitive structure. The purse awarded for championship points accumulated over the course of the season began to be significant. Previously, drivers were mostly concerned about winning individual races. Now, their standing in championship points became an important factor.

Source:
http://en.wikipedia.org/wiki/NASCAR