Automakers are pulling ad dollars away from Twitter after Elon Musk purchased the social media platform for $44 billion recently.
the General Motors said"As is normal course of business with a significant change in a media platform, we have temporarily paused our paid advertising." General Motors added that it is"engaging with Twitter to understand the direction of the platform under their new ownership." So, it appears they are at least open to continue advertising on the platform again once it knows more about what Musk plans to do with it.
Stellantis is the latest automaker to reveal that it is pulling back from spending ad dollars on Twitter."We're pausing paid advertising posts until we have a clearer understanding of the future of the platform under its new leadership," said Stellantis in a statement to. Stellantis has major American automotive brands Dodge, Jeep, Ram, and Chrysler under its umbrella including foreign brands like Peugeot, Alfa Romeo, Fiat, and more.
It seems that the common denominator among these brands is that they are hanging back to see where Twitter's new direction goes under Musk's leadership. However, there is also the possibility that these automakers aren't thrilled with the idea of supporting Twitter when its owner is also the CEO of a major competitor. General Motors is investing heavily in future EV development to put up a harder fight against Tesla which is an EV market leader.
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