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Digital advertising accounted for over ** percent of the car dealerships’ media budget in the United States in 2023. That year, car dealers' advertising spending amounted to approximately *** billion U.S. dollars.

Audio streaming provides the highest ROI for car dealerships

During a 2022 survey, out of 10 U.S. car dealerships stated they invested a share of their ad budget in online video advertising. Social media and search followed as the most popular digital formats. Regarding return-on-investment (ROI), audio streaming took the lead. Nearly ** percent of respondents deemed platforms like Spotify and Pandora worth the ad dollars invested.

Automotive industry ad spend set to grow

Automotive advertising spending in the U.S. was forecast to increase *** percent in 2023 to reach some **** billion dollars. One year earlier, the industry was among the country's top five leading categories in measured media spend. Carmakers are some of the major spenders in the American ad market. In the 2022 ranking of the top automobile manufacturers by advertising spending in the United States, General Motors, known for several brands such as Chevrolet, Cadillac, and Buick, ranked first.