\n
The electric vehicle revolution will apparently not be televised.<\/p>\n
Automakers like Ford and Nissan have reined in their EV ad spend this year, at least on TV, according to iSpot.<\/p>\n
According to the measurement firm, automakers spent 22% less marketing electric vehicles on linear TV in the first 11 months of 2024 than they did in the same period in 2023. These ads also generated roughly 34% fewer impressions in the same period this year compared to last year, meaning fewer people saw them proportionally.<\/p>\n
The pullback in spending comes amid an uncertain future for the broader EV market. President-elect Donald Trump is expected to roll back policies supporting the EV transition after he assumes office in late January, and it\u2019s also likely he and his Congressional allies will try to get rid of federal tax credits for EV purchases.<\/p>\n
Backing off<\/strong>: The biggest brand pullback came from Nissan, which spent an estimated $129.2 million in the first 11 months of 2023 to promote EVs, including spots for the Nissan Ariya featuring actor Brie Larson. This year, Nissan has spent only $31.4 million on EVs, a difference of 121%, iSpot found. Nissan declined to comment.<\/p>\nFord also cut back its ad spend significantly in 2024, iSpot found. The brand, which makes electric vehicles like the Mustang Mach-E and F-150 Lightning, spent an estimated $101 million on EV ads in the first 11 months of 2023. That dropped down to $55 million in the first 11 months of 2024, iSpot found, a drop of 45% year over year. Ford did not respond to a request for comment.<\/p>\n
General Motors brand GMC was a significant exception, and even though GM opted out of advertising EVs in the 2024 Super Bowl, it increased spending on EV ads from an estimated $5.4 million in the first 11 months of last year to $36.8 million this year, an increase of 581%, iSpot found. A majority of those dollars were put behind ads for its Hummer EV. GMC did not respond to a request for comment.<\/p>\n
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In many ways, automakers could be making many of the same decisions as other advertisers are, eschewing traditional linear TV ads for more targeted digital advertising options, Stephanie Valdez Streaty, director of industry insights at Cox Automotive, explained.<\/p>\n
\u201cThe EV market is more Gen Z, more multicultural, really digital,\u201d Valdez Streaty said. \u201cThat could be a reason for shifting.\u201d Additionally, alternative forms of advertising, like work with influencers, could help address some of the barriers preventing consumers from switching to EVs, like range anxiety and complexities around battery warranties, she said.<\/p>\n
Big game gains:<\/strong> In recent years, EVs have joined advertising\u2019s biggest (and most expensive) party at the Super Bowl, but their presence in the broadcast has been uneven. In 2022, six auto brands including BMW, Chevrolet, and Nissan promoted their EV models in the big game, but only three auto brands, including General Motors, ran EV-focused ads in the game the following year.<\/p>\nThe auto category, inclusive of both combustion engine and battery electric vehicles, remains a juggernaut in terms of raw, budgetary tonnage, and in total, automakers spent an estimated $2.11 billion on linear TV ads through November of this year, with a majority of the spend directed toward NFL football games, iSpot found.<\/p>\n
Zoom out: <\/strong>Regulatory upheaval and slowed growth are testing the EV category.<\/p>\nThough a November Accenture report found that most drivers expect to find themselves behind the wheel of a large electric vehicle within the next decade, nearly half of all vehicle shoppers aren\u2019t yet considering EVs, and even those who are cited cost and a lack of charging stations as barriers, according to Cox\u2019s 2024 Path to EV Adoption Study.<\/p>\n
\u201cWe\u2019re seeing growth, just not at the pace we\u2019ve seen historically,\u201d Valdez Streaty said.<\/p>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The electric vehicle revolution will apparently not be televised. Automakers like Ford and Nissan have reined in their EV ad spend this year, at least on TV, according to iSpot. According to the measurement firm, automakers spent 22% less marketing electric vehicles on linear TV in the first 11 months of 2024 than they did […]<\/p>\n","protected":false},"author":1,"featured_media":21788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-21787","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"\n
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