by Christopher Freeburn | April 10, 2013 11:14 am
In a bid to attract younger car buyers, General Motors (NYSE:GM) is returning to Facebook (NASDAQ:FB) to advertise its latest subcompact.
Investors liked the news, sending Facebook shares surging more than 4% in Wednesday morning trading, while GM rose more than 1%.
The automotive giant has not advertised on the social media website for almost a year. It’s new round of ads promote its Chevrolet Sonic, a low-priced car that GM hopes will prove popular with Facebook’s younger demographic, CNN Money notes.
GM’s ads for the sonic will appear exclusively on Facebook’s mobile site. Facebook says that mobile ads comprised 23% of its total fourth-quarter revenue.
Last year, GM halted Facebook ad purchases prior to the social media giant’s initial public offering. The car-maker said that the move was the normal result of ad placement reshuffling.
GM says that the new Facebook ads are part of a test of different advertising platforms as it crafts its “Find New Roads” promotional strategy.
Source URL: https://investorplace.com/2013/04/gm-returns-to-facebook-after-a-year-away/
Short URL: http://invstplc.com/1ftSHYR
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.