GM's move, first reported by Street & Smith's Sports Business Journal, is the result of changes in its marketing strategy and came after the company evaluated the return on its advertising investment.
“We have other avenues to be able to reach this same audience without bearing the expense of being an official sponsor of the U.S. Olympic team," GM spokeswoman Ryndee Carney said.
Chevrolet, GM’s largest marketing division, is the featured division for GM’s U.S. Olympic Team sponsorship.
The Chevrolet brand will continue to sponsor the U.S. snowboarding team, and GM of Canada is sponsoring the 2010 Winter Games in Vancouver.
The decision to quit the sponsorship was not made because of GM's financial condition, Carney said.
