They called him a bluff, but he did it. Tesla Motors CEO bought Twitter in one of the most dramatic takeovers of our time. But it seems his theatrical buyout of the world-famous social media platform didn't 'sink in' well with the head honchos of rival automotive brands. As you read this piece, several leading automotive companies have paused advertising on the platform.
But before we judge them as melodramatic, let's pause and hypothetically place ourselves in their position. In their perspective, advertising on Twitter is like going to war with your enemy in the morning and eating dinner at their restaurant in the evening – you risk getting poisoned.
As a result, General Motors, Stellnatis NV, and Volkswagen AG have temporarily halted advertising on the platform. Two weeks ago, GM told CNBC they were "engaging with Twitter to understand the direction of the platform under the new ownership."
A Ford spokesperson told CNBC that the American car manufacturer had not been advertising on the social media platform well before the Musk takeover. They are also evaluating the platform's direction under its new ownership.
Despite pausing their advertisements, GM, VW, and Stellantis NV still interact with their fans and clients on the platform.
Musk has asked rival auto manufacturers to continue advertising on the platform. He pledged not to give an unfair advantage to Tesla even though he leads both companies, Bloomberg said.
Speaking to advertisers on a Twitter Spaces broadcast, he encouraged automotive executives to be more active on the platform. He added that Twitter would try to be as fair as possible.
His comments highlight the tension in the industry after leading automotive manufacturers temporarily suspended advertising on Twitter after Musk's buyout.
The new owner has vowed to make Twitter a "free-for-all-hellscape," and pledged to turn it into "the most respected advertising platform in the world."
As a result, General Motors, Stellnatis NV, and Volkswagen AG have temporarily halted advertising on the platform. Two weeks ago, GM told CNBC they were "engaging with Twitter to understand the direction of the platform under the new ownership."
A Ford spokesperson told CNBC that the American car manufacturer had not been advertising on the social media platform well before the Musk takeover. They are also evaluating the platform's direction under its new ownership.
Despite pausing their advertisements, GM, VW, and Stellantis NV still interact with their fans and clients on the platform.
Musk has asked rival auto manufacturers to continue advertising on the platform. He pledged not to give an unfair advantage to Tesla even though he leads both companies, Bloomberg said.
Speaking to advertisers on a Twitter Spaces broadcast, he encouraged automotive executives to be more active on the platform. He added that Twitter would try to be as fair as possible.
His comments highlight the tension in the industry after leading automotive manufacturers temporarily suspended advertising on Twitter after Musk's buyout.
The new owner has vowed to make Twitter a "free-for-all-hellscape," and pledged to turn it into "the most respected advertising platform in the world."
Musk encourages Tesla's competitors to keep advertising on Twitter https://t.co/He5grJeKFX pic.twitter.com/tmdMfsVDMd
— Automotive News (@Automotive_News) November 10, 2022