GM readying $100m Malibu ad campaign
GM is on the precipice of launching in the next few months three of the most important cars in the entire corporation. The 2008 Corvette and Cadillac CTS have been on the cover of virtually every enthusiast magazine, and us bloggers have been providing consistent updates via the web. The third and least-covered of GM's new models is the 2008 Malibu, but GM isn't taking lightly the importance of Chevrolet's midsize sedan. It's planning on bringing the Malibu to market behind the strength of a $100m ad campaign. With the Malibu set for a November 1 sale date, expect to see plenty of TV spots, radio ads, a print and web campaign, and maybe even some billboards this fall. $100 million is a lot of money (we checked). Toyota used a similarly-sized war chest to launch the Camry last year, and we can expect the Malibu to measure itself against the midsize sales king when it arrives.
While the upgraded Corvette and CTS bring much needed credibility and cash to GM, the Malibu may be the biggest launch of the three. The midsize sedan segment is huge, and GM can add to its retail market share if the Malibu is a success. The General is even planning on cutting fleet sales by half to about 20% of overall sales, which will boost resale values and lower lease prices (or lease incentives) at the same time. While the new Vette and CTS get all the headlines, GM is smart enough to give the Malibu the lion's share of the ad dollars.
[Source: Detroit News]
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