Automobile manufacturers and dealers spent $7.5 billion on advertising during the first six months of 2009, says TNS Media Intelligence. The company that keeps track of nearly every form of advertising for all industries is reporting that the figure represents a 30.8% drop compared to the same period last year, when it was $10.8 billion in spending. Not surprisingly, the plummet nearly mirrors the decline in motor vehicle sales (which dropped 27.4% during the exact same period).
The decline in advertising expenditures isn't is exactly new news as automotive advertising has dropped for seventeen consecutive quarters, reports TNS. Among the nation's top ten advertisers for the same period, General Motors was the only automaker to make the cut in third place behind Proctor and Gamble Co. and Verizon Communications Inc. –although GM only spent $1.4 billion this year (a reduction of 15.5% from last year). Overall, across all industries, advertising is down nearly 15% from last year according to TNS Media.
[Source: Detroit Free Press, image: Productioncars.com]
The decline in advertising expenditures isn't is exactly new news as automotive advertising has dropped for seventeen consecutive quarters, reports TNS. Among the nation's top ten advertisers for the same period, General Motors was the only automaker to make the cut in third place behind Proctor and Gamble Co. and Verizon Communications Inc. –although GM only spent $1.4 billion this year (a reduction of 15.5% from last year). Overall, across all industries, advertising is down nearly 15% from last year according to TNS Media.
[Source: Detroit Free Press, image: Productioncars.com]
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