It should come as little surprise that while the CEOs of the nation’s top three auto manufacturers continue to beg Congress for a $25 billion emergency bailout, The Nielsen Co. Wednesday reported that GM, Ford and Chrysler have all dramatically reduced their advertising buys this year.
Through July, the Big Three American carmakers all showed negative advertising growth compared to the same period in 2007. GM and Chrysler each spent 22% less on ads while GM lopped off only 6%.
Meanwhile, some foreign automakers such as Daimler (up 48%), Volkswagon (up 23%) and Honda (up 13%) increased their multimedia advertising budgets through the first seven months of the year.
Hyundai, however, trimmed its ad buys by 17% and Nissan chopped off 15%. Toyota’s advertising buys remained unchanged through this same period.
Overall, all automakers reduced their ad buys by 10% through July, according to The Nielsen Co.