Check out this week's roundup to learn more about marketing in the automotive industry and what to expect in 2024.
The automotive industry will face another subdued year in 2024, weighed down by slow consumer spending, high interest rates and disruption to supply chains due to geopolitical tensions. The only bright spot will be the electric vehicles market, with sales expected to soar by 21% as governments and consumers try to mitigate the worsening effects of climate change. <<<READ MORE>>>
Although automotive sales dropped earlier this year due to the pandemic, demand is on the upswing again. In fact, some consumers who previously relied on ride-sharing and public transportation are planning to buy a car sometime this year, according to a CarGurus survey, and others are looking forward to treating themselves with a new vehicle as economic activity continues to climb. The automotive industry needs to be ready to reach these new customers. <<<READ MORE>>>
During the past two years, the automotive industry has seen substantial swings in supply and demand. This, along with changes in customer preferences, has made marketers reconsider their approach to advertising.
Technological advances are creating opportunities that can help solve these challenges. Using new AI-powered tools, it's becoming possible to extract actionable insights from previously untapped data.
In this article, we’ll introduce automotive advertising and discuss the current state of the automotive marketing landscape. Then, we’ll take a look at some of the major challenges facing the automotive industry and how companies can evolve to address these challenges. <<<READ MORE>>>
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