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Having just reported a global net loss of $8.7 billion in Q2, Ford cut its $300 million global auto marketing budget down to $100 million. The cut includes advertising and sales promotion, minus incentives, across all Ford brands.
In the U.S., one of Ford’s new model launches can easily hit $100 million.
The company continues to fare well outside the U.S. Corporate executive vp and pres of Ford in the Americas said the company would buttress losses by adding six small cars from its European lineup to the American market. Its hybrid vehicle line will also expand from two to four models, with hybrid production expected to double in ‘09, reports Advertising Age (via MarketingVOX).
By 2013, Ford North America expects to share 100 percent of its models with Ford Europe — a profit-culling scheme the company dubbed “One Ford.”
Just last week, General Motors - following a slip in U.S. sales of 16 percent this year - announced sweeping cost-cutting measures, including a 20 percent reduction in payroll for salaried workers and a ceiling of $15 billion in sales and marketing spend through 2009.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Top American non-luxury auto brands received higher ratings and less negative comments from online consumers than competing Japanese brands, according to an analysis of consumer opinions collected from automotive review websites by Biz360, MarketingCharts reports.
The research, which aggregated a year’s…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
