General Motors has officially scratched itself from the 2013 Super Bowl. Although the Detroit automaker won't be advertising during next year's big game, GM says it will be participating in this year's Olympic Games.
General Motors has historically been one of the Super Bowl's biggest ad spenders - placing third behind Anheuser-Busch InBev and PepsiCo Inc. between 2002 and 2011 - but the company says it can no longer justify the high prices of commercials during Super Bowl Sunday.
"We understand the reach the Super Bowl provides, but with the significant increase in price, we simply can't justify the expense," Joel Ewanick, GM's global chief marketing officer, said in a statement.
GM spokesman Pat Morrissey told The Detroit New that the company will redistribute money allocated to the Super Bowl to other areas of the company.
Although GM is pulling out of next year's Super Bowl, the automaker isn't completely abandoning sporting events altogether - GM plans to advertise during this year's Summer Olympics.