General Motors and Tiger Woods end deal early
- Friday, 28 November 2008
- 1 Comments
Tiger Woods has parted company with General Motors
One year before their contract together expires, General Motors and Tiger Woods have mutually decided to “cut the cord” and end their endorsement deal.
Woods, who has carried the Buick logo on his bag for the past nine years, said recently that he wants more time for himself, especially with a second child on the way.
Larry Peck, golf marketing manager for Buick agreed saying, “Timing is everything.”
The General Motors Corporation has been looking to cut costs in attempts to endure their worst drop in sales in nearly 25 years, but separating from Woods wasn’t easy.
Since the world's No.1 golfer signed on, the average age of the brand’s buyer has dropped.
“We attribute the awareness of our product to Tiger,” Peck added.
Due to the slowing American economy however, Buick’s U.S. sales have dropped 54% since 2000.
The decision to remove what is believed to be a $7 million a year contract, was a budget efficiencies move for GM.
“We've had such a great partnership with Tiger,” Peck said. “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."
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Reader comments
Add your commentsDecember 31 09:00
Bobwilliams
Tiger's contract is not the last thing that will be dropped. The next announcement should be that the Buick line has been dropped by GM. When your average customer's age is 66-70, these people are not repeat buyers. For many of them, this is the last car they're ever going to buy. GM can move the Enclave over to the upper end of the Chevy line, and get rid of the many 'dogs' Chevy has in it's line. Does GM really need the Suburban, the Tahoe, the Blazer, the Yukon, & the Denali.
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Bobwilliams
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