GM Says Commonwealth Created to Be Chevrolet Brand Ad Agency

General Motors Co., the world’s largest automaker, named a new advertising agency for its Chevrolet brand as part of reorganizing the company’s marketing efforts aimed at saving $2 billion over five years.

The Chevy business will go to Commonwealth, a newly created joint venture between Omnicom Group Inc.’s Goodby, Silverstein & Partners and Interpublic Group of Companies Inc.’s McCann Erickson Worldwide, GM said today in a statement. Chevrolet, GM’s largest brand by unit sales, previously used 70 ad agencies around the world, the carmaker said.