Automakers Cut Hispanic Ad-investment amid Pleas for Federal Assistance
According to research provided by TNS Media Intelligence, automakers slashed Hispanic ad investment in the first 3 quarters of 2008 by 5.2% across all platforms. While it is no surprise that the ailing industry is being forced to decrease ad-budgets, it is nonetheless hair-raising given what a reliable source of income it has proven to be in the past. The silver lining is that the industry’s ad-decrease had been more precipitous in the general market than in Hispanic, signaling that automakers still view Latino consumers hopefully.
According to Erich Linker, VP National Sales for Impremedia, automotive investment is down for Impremedia’s properties, though he did not choose to say by how much. Linker tells Portada that although spending is down, dealers still have money to spend, and Impremedia is therefore trying to accommodate them with innovative ad-packages.
Linker adds that categories like CPGs, Financial and Telecom have buoyed the company this year and helped them remain in the black. “There’s no question that Q4 is going to be difficult, but I’m confident in our approach,” Linker tells Portada. He says that the portal the company launched earlier this year has
attracted 30 new advertisers.
As the top brass of Detroit’s so-called “Big Three” appeared before Congress to make a renewed request for $25 billion in aid, Mauricio Becerra, Multicultural Manager for Chevy told Portada, “We are scaling down investment a bit.” While he would not go into detail as to which mediums specifically were being targeted, he said the company is reviewing the whole marketing mix. “With that said, we are going to maintain spending efforts in Hispanic, because it is a growing market with real potential,” Becerra told Portada.
In terms of current Hispanic marketing activity, Becerra points to the launch of the Chevy Traverse, a cross-over model which is being advertised in Print, Radio and Online.
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