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Imported automobiles are parked in a lot at the port of Newark New Jersey, US, February 19, 2019. REUTERS / Eduardo Munoz
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Sept 16 (Reuters) – US auto industry ad spend for the first seven months of this year fell 4% year-on-year as inventory shortages crimped sales even as vehicle demand stayed strong, according to data from an advertising research firm.
Digital ad spending accounted for 53% of the totall $ 4.80 billion the industry spent during the period, according to data from Standard Media Index (SMI).
The overall ad spend was 12.7% less compared to the same period in pre-pandemic 2019 at $ 5.50 billion, as spending from dealerships, traditionally among the biggest in the industry, suffers due to a shortage of vehicles.
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Reporting by Nathan Gomes in Bengaluru; Editing by Vinay Dwivedi
Our Standards: The Thomson Reuters Trust Principles.
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Sources 2/ https://www.reuters.com/business/autos-transportation/auto-industry-ad-spend-falls-48-bln-first-seven-months-2022-data-2022-09-16/ The mention sources can contact us to remove/changing this article |
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