Leading Local Insights: What’s Happening in Automotive?
In the latest episode of BIA’s podcast, Leading Local Insights, Ad Spend Estimates and Trends for the Automotive Vertical (Part 1), BIA industry analyst Suzanne Ackley examines the ad spend and media selections of businesses in the automotive vertical.
For 2021, BIA estimates that total local ad spending for the Automotive vertical will grow slightly, a 4.6% increase, or $543 million, from 2020. Automotive includes dealers, repair shops, tire shops and much more. The good news for local sellers is that automotive sub-verticals will increase their spend this year over 2020 levels. What are those two sub-verticals? Tires, Automotive Parts and Accessories Stores and Automotive Repair Services. This makes sense considering the difficult situation the automotive industry finds itself in with the lack of semiconductor chips, empty dealers lots, and increasing consumer demand for cars.
Where is spend down in 2021? We estimate that Tier 1 – Automotive Manufacturers, as well as Gas Stations/Petroleum, will decrease their local ad spending this year. The decline in Tier 1 – Automotive Manufacturers is particularly painful for media sellers as this is the largest spending sub-vertical under the Automotive Vertical.
Listen to the episode, Ad Spend Estimates and Trends for the Automotive Vertical. Questions or want to see how BIA can help you? Email us at email@example.com.
Next week, Suzanne discusses which media channels businesses in the automotive vertical are spending their ad budgets on this year and beyond.
If you are interested in more information on the Automotive vertical and local sales strategies, we have a report for sale in our shop called Insights into Local Advertising 2021: Automotive Vertical.
BIA’s Advantage clients can look at their local Automotive spend in their specific markets in our Advantage platform plus download the whole advertising report and the supplemental local selling report for Automotive.
About the Leading Local Insights Podcast
Get on-point analysis of the local media marketplace with BIA’s Leading Local Insights Podcast. Each Tuesday, BIA shares its current insights on major topics including OTT, digital, broadcast, print, media ad platforms, advertising revenue estimates, financial valuations and more.
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