Golf pro Tiger Woods will no longer be spokesman for auto giant General Motors (GM), after his contract expires in 2009.
Wired PR News.com –As reported by the Associated Press (AP), as a means of cutting costs, General Motors will end their $7 million a year endorsement deal with the championship winning Woods.
Larry Peck of GM was quoted in the AP report as stating “We’ve had such a great partnership with Tiger. It’s hard for us to walk away from that. But this frees up time for him. And it sure frees up a lot of money for us.”
General Motors has seen a decline in sales of the Buicks in the US since 2000, but the company has seen 17 percent growth globally. The car is stated to be a popular type in the Chinese auto market. Peck credited Woods with contributing to the growth stating “We attribute awareness of our product to Tiger.”
General Motors is one of the three top U.S. automakers seeking a $25 billion bailout from Congress. The company has also decreased spending on advertising during the 2009 Super Bowl and Oscars.
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