By Ben Klayman
(Reuters) – General Motors Co will not advertise in next year’s Super Bowl because it is too expensive, the top marketing executive for the U.S. automaker said three days after the company said it was dropping paid ads on Facebook Inc.
The 2013 Super Bowl will be broadcast by CBS Corp, which is selling 30-second ads for as much as $4 million.
DETROIT/NEW YORK, May 17 (Reuters) – Facebook may
only have itself to blame for why General Motors rained
on its IPO parade this week.
GM announced the decision to drop Facebook paid ads on
Tuesday in what was the first highly visible crack in Facebook’s
strategy and illustrated doubts about its perceived advantage
over traditional media.
DETROIT (Reuters) – General Motors Co said on Tuesday it will stop advertising on Facebook, even as the social networking website prepares to go public.
A source familiar with the automaker’s plans said GM’s marketing executives decided Facebook’s ads had little impact on consumers.
By Ben Klayman
(Reuters) – Lithium-ion battery maker A123 Systems Inc (AONE.O: Quote, Profile, Research, Stock Buzz) expects production capacity to be constrained over the next several quarters as it recovers from a battery recall but said it has corrected the cause of the defect and that demand remains strong, sending shares up 12 percent.
A123 also said on Tuesday it had not lost any customers due to the defective batteries.
CHONGQING, China (Reuters) – Frank Chuang proudly surveys his immaculate new car plant as partly assembled versions of the Ford (F.N: Quote, Profile, Research, Stock Buzz) Focus travel down the production line.
Glancing at the small cars in the massive manufacturing complex in the city of Chongqing in southwestern China, the 32-year Ford veteran is satisfied with the way production has ramped up since the plant opened in February.