General Motors Plans Aggressive Marketing Efforts After IPO, Ewanick Says
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General Motors Co., which raised more than $20 billion an initial public offering yesterday, will be more aggressive marketing its brands now that it is publicly traded again, the automaker’s top marketer said.
“There were things we would have tried or done that we did not do” during the pre-IPO quiet period, Joel Ewanick, GM’s vice president of U.S. marketing, said today in an interview in Los Angeles. “Now, you’ll start seeing more and more.”
GM will be more active in advertising during the National Football League’s Super Bowl championship game, and Chevrolet is planning monthly marketing efforts for its new Cruze compact car even after the traditional introduction period, he said.
As part of the increased marketing, GM’s Chevrolet brand said today it would spend $40 million on clean-energy projects through the U.S. to reduce 8 million metric tons of carbon dioxide. GM said the reduction equals the 2011 emissions of the Chevrolet vehicles it expects to sell in the next year.
The spending in the next three to five years may help install energy sensors and solar panels at schools and support wind-energy projects, GM said. Chevrolet has a growing lineup of fuel-efficient vehicles, including the electric Chevy Volt.
The automaker will seek projects that wouldn’t be able to take place without the funding, Ewanick said.
GM, which has sought environmental experts’ help in defining project criteria, said it will make the investments through third-party organizations, such as the Portland, Oregon- based Bonneville Environmental Foundation.
Ewanick said last month that GM would spend slightly more on advertising next year than the $2.5 billion the company spent in 2008.
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