Electric vehicle ads make up fraction of overall spending despite Super Bowl splash
Why it matters: The ads are the latest sign of the growing volumes of electric models becoming available or in the offing, but the New York Times notes that just 0.3% of the $8.6 billion that the auto industry spent on local and national advertising last year promoted electric vehicles.
- They note the figure does not include local dealership ads or social media campaigns.
What's next: The Times notes that "some companies are already signaling a shift in emphasis in the years ahead."
- Audi plans to devote half its global market budget to EVs this year, compared to 10% in 2019.