The forecast: The US auto industry's digital ad spending will rebound completely from 2020's pandemic-propelled losses, allowing for a full recovery in ad spending by the end of 2021. This year, auto will more than make up for the drop of $1.22 billion in digital ad spending it lost in 2020.
A deeper dive:
Looking ahead: As previously mentioned, US auto's digital ad spend is on the mend in 2021 and will continue to grow to $19.00 billion by 2023, we estimate.
That said, the auto industry will make up a decreasing share of the US digital ad spending pie. In 2016, auto brands and dealers made up around 12% of all digital advertising. This number fell precipitously to around 8% of all digital ad spending in 2020, and we expect it to stagnate to around 7.6% by 2023.