Movie stars will need will be needing Limousine Service to  transport them to the Oscars next year after a decision by cash-strapped General Motors to end its 19-year sponsorship of Hollywood's glitzy annual awards. America's largest car maker is slashing its promotional budget as it struggles to trim losses that topped $18 Billion in the first half of the year.

GM has traditionally been one of the biggest advertisers at the Academy Awards. It splashed out $13.5m on television commercials during this year's ceremony. The company persuaded stars to ditch their usual limousines in favour of travelling to the show in a fleet of 75 hybrid or fuel cell-powered cars. But faced with a cash squeeze, the company is withdrawing from the Oscars and the Emmy television awards. It recently asked advertising agencies to share in its suffering by reducing their fees for car campaigns.

"With the current business challenges and tightening budgets, we've decided to focus our advertising and promotional dollars on activities that reach customers in the most impactful ways," a GM spokeswoman said. "The Academy Awards was a very good platform in the past but is not part of our 2009 business plans."

The Limousine Industry is preparing for the Oscars this year and it is sure to be as fabulous as ever.