General Motors (NYSE:GM) continues to monitor Twitter and evaluate its decision to suspend advertising on the social media platform following Elon Musk’s takeover of the company.
CEO Mary Barra told the media Tuesday that the automaker’s decision to suspend advertising in October was in part an effort to protect its brands but was also influenced by the fact that Musk’s electric vehicle company, Tesla, is a competitor to GM. The Detroit automaker was among the first major advertisers to pause advertising.
“Anytime there’s a major change in a company, we would look to make sure we understand what the new philosophies are going to be. Our teams are having conversations,” Barra said. “So, we want to make sure our advertising strategies are kept confidential.”
Under Barra, GM has announced billions of dollars in spending to better compete against Tesla (NASDAQ:TSLA) in the battery electric vehicle segment. Automakers such as GM have worked with Twitter and other social media platforms on advertising campaigns as well as new vehicle unveilings and launches.
GM’s Twitter accounts have largely sat dormant since Musk acquired the company: Accounts for GM and Barra have not tweeted or retweeted anything since Oct. 27, when Musk took control.
GM said at the time that it would suspend advertising on Twitter to “understand the direction of the platform” as a “normal course of business.”
GM shares declined 29 cents to $38.50 early Tuesday.
