Tiger Woods

General Motors is ending its nine-year endorsement deal with Tiger Woods as the carmaker cut expenses to try to survive the worst sales downturn in 25 years. The financially beleaguered company said that it was looking to reduce costs, and that Woods also wants more personal time as he expects his second child.

Woods has endorsed GM products around the world and mainly has been seen in Buick commercials as the company tried to give its brand a more youthful image.

“I am very proud of the long standing partnership I’ve had with GM and have enjoyed being a part of the company’s dramatic product evolution,” Woods said.

GM said the company and Woods agreed together to end the deal, and the separation was amicable.

GM has been making dramatic cuts in advertising as they try to conserve cash.

The United States’ largest car maker spent nearly $7 billion more than it took in the last financial quarter and has warned that it may reach the minimum amount required to run the company by the end of the year without federal help.

Mark LaNeve, GM’s vice-president for North American marketing, said GM and Woods started discussing an end to the deal earlier this year, and it had nothing to do with GM’s quest for $25 billion in federal loans.

But the company’s statement said the decision was made as part of “the search for budget efficiencies during a difficult economy for General Motors”.

GM is so concerned about costs that it cut advertising during the 2009 Super Bowl although it still plans to sponsor the National Football League.