The coronavirus pandemic has brought US auto sales to a 30-year low. As a result, the US automotive industry will spend just $10.94 billion on digital advertising this year, down by 18.2% from 2019.
Despite 2020 shaping up to be a grim year for automotive overall, the recent rise in used car sales may indicate a pent-up demand for car purchases. If the pandemic subsides and economic conditions stabilize, we expect automotive digital ad spend to rebound by 21.4% in 2021 to $13.29 billion, a figure closer to pre-pandemic levels.
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