Chevy Drops Sponsorship of Detroit’s Woodward Dream Cruise

General Motors Co.’s Chevrolet brand has ended its six-year run as the presenting sponsor of metro Detroit’s annual Woodward Dream Cruise classic car event, The Detroit News reports.

The 23-year-old spectacle draws roughly 1 million spectators and 40,000 cars, most of them performance models from the 1950s, 1960s and 1970s. This year’s dawn-to-dusk event—held along a 10-mile stretch of Woodward Avenue between the northern border of Detroit and the city of Pontiac—will occur on Aug. 19.

Chevy began its sponsorship with a three-year deal in 2011 worth more than $1 million. The unit will continue to offer product displays at two locations along the route.

Tony Michaels, the event’s executive director, says a new presenting sponsor will be announced within a few weeks.