"Stellantis Opts Out of Super Bowl LVIII Ads and Chicago Auto Show"
The Detroit Three automakers—Stellantis NV, General Motors Co., and Ford—have decided not to purchase advertising spots for the 2024 Super Bowl, despite the Detroit Lions' successful season. With ad prices at around $7 million for a 30-second spot, the companies are reevaluating their marketing expenditures in light of a challenging U.S. automotive market and the need to protect profit margins amid expected sales growth moderation and high interest rates. Stellantis, which aired two commercials in the previous year's game, is also reconsidering its participation in auto shows, starting with skipping the Chicago Auto Show. GM and Ford have also indicated a strategic shift in their media strategies, with Ford's CEO previously suggesting that investing in Super Bowl ads for electric vehicles would be a negative signal for the company's stock.
