GM pauses paid advertising on Twitter as Chief Twit Elon Musk takes ownership • TechCrunch
GM has temporarily halted paid advertising on Twitter, a day after billionaire and Tesla CEO Elon Musk quit $44 billion acquisition From the social media platform.
CNBC was first to report General Motors’ decision. TechCrunch confirmed the US automaker’s decision.
“We are engaging with Twitter to understand the direction of the platform under its new ownership,” the company said in a statement emailed to TechCrunch. “As usual in the course of business with a major change to the media platform, we have paused our paid advertising. Customer service interactions on Twitter will continue.”
It’s not clear what percentage of GM’s total advertising budget is devoted to Twitter.
Most, if not all, automakers have a presence on Twitter. Although not all of them opt for paid ads.
Ford, GM, Stellantis, Porsche, VW and Volvo are just a handful of well-known automakers along with newer companies like Rivian that have social media accounts on the platform. Fisker is still on Twitter even after founder and CEO Henrik Fisker deleted his personal account in April after the Musk-Twitter deal was announced.
Musk tried to allay advertisers’ concerns earlier this week with a note posted on His personal Twitter account About his approach to managing the social media platform.
“There has been a lot of speculation about why I bought Twitter and what to think of the ad,” Musk wrote. “Most of it was a mistake.” He went on to write that he believes Twitter has the potential to be a “shared digital cityscape”, and that the platform cannot be a “free hell arena for all”.
Musk’s promises may not be enough for General Motors as it seeks to compete and even outperform Tesla in electric vehicle sales.