Auto industry ad spending fell to .8 billion in the first seven months of 2022 – data

Auto industry ad spending fell to $4.8 billion in the first seven months of 2022 – data

(Reuters) – U.S. auto industry ad spending for the first seven months of this year fell 4% year-on-year, as inventory shortages hampered sales even as demand for cars remained strong, according to data from an advertising research firm.

Spending on digital advertising made up 53% of the total $4.80 billion the industry spent during the period, according to data from the Standard Media Index (SMI).

Total ad spend was 12.7% lower than the same period in the pre-pandemic period of 2019 at $5.50 billion, as spending from dealerships, traditionally among the largest in the industry, suffers from vehicle shortages.

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