Global advertising investment by automotive brands is forecast to decrease by 12.4% year-on-year in 2023, continuing a long-term trend of declining spend by car-makers.
Aside from a post-COVID splurge in 2021, global automotive ad spend has reduced every year since 2016. Total investment fell 5.3% to $42.4bn in 2022, according to WARC Media. A similar pattern of shrinking investment can be seen at an advertiser level with Ford, GM, and Nissan.
In the decade since 2013, automotive’s share of total worldwide ad spend has dropped from 10.1% to a forecasted 4.1% this...