The economic crisis continues to wreak havoc on the auto industry’s advertising spending, a Nielsen Monitor-Plus report reveals.
The Big Three American car manufacturers all posted negative advertising growth in the first half of this year compared with 2007. Both Ford and Chrysler spent 22% less on advertising in 2008, while General Motors’ ad spending fell by 6%.
The American car industry’s economic struggles are underscored by the growth of ad spending by foreign car manufacturers. Honda increased spending by 13% from 2007, while Daimler and Volkswagen boosted their ad spend by 48% and 23%, respectively.
Spending was down for Hyundai (-17%) and Nissan (-15%), while Toyota’s remained unchanged.
Overall, ad spending is down 10% for the entire auto industry, but the money that is being spent is going toward spot TV, network TV and cable TV.
Jan-July 2008 $ mil
% Change 2007 vs. 2008
|5||Spanish-Language Network & Cable||$174.20||-8%|
|13||National & Local Sunday Supplement||$5.50||-20%|
|Source: Nielsen Monitor-Plus|