Electric Vehicle adspend set to rise in 2023

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The rise of electric cars is an ongoing hot topic, with more and more people opting for electric vehicles (EVs) over traditional gasoline-powered cars.

With the growing popularity of EVs, we’re all seeing an increasing amount of EV advertising on our TVs, billboards and social feeds.

The most recent example of this is Hyundai’s new multichannel campaign aimed at would-be EV buyers for its Ioniq 5 model.

Moreover, last month the brand’s all-electric IONIQ 6 was crowned ‘Saloon of the Year’ at the 2023 GQ Car Awards

So we’re taking a closer look at the advertising trends for electric cars and combustion engine vehicles.

EV ads in mainstream media

As well as Hyundai’s current multi-million pound campaign, rival brands such as Tesla, KIA and Nissan are all teeing up for more ad spend in 2023.

Ad intelligence platform MediaRadar said it expects to see media adspend in the EV sector to accelerate significantly in 2023.

The marketing strategies of the world’s carmakers are clearly leaving combustion vehicles behind on the starting line.

Electric cars dominating advertising?

The question is, could 2023 be the year that fossil fulled transport gets left behind for good?

ev-mediarader

It’s not just in the mainstream, where increasing ads are appearing. This trend can be seen across online automotive classified ads too, on platforms such as Auto Trader.

This is likely due to the growing popularity of electric cars, as well as the increasing awareness of the environmental and financial benefits of driving an EV.

The car buying site said that last year it saw more new and used EV car ads appearing on on its platform than ever before.

It said it expects this trend to continue as environmental concerns and consumer awareness drives more and more drivers to switch to EV options.

This is underpinned by the fact that banner advertising on Auto Trader is now dominated by EV offers.

One of the main ads on the Auto Trader landing page is an EV free giveaway banner promotion in partnership with Citroen, where users can win a Citroën Ë-C4 worth over £34,000!

Moreover, a search for the Hyundai Ioniq on Auto Trader revealed a range of new and used electric vehicles for sale.

The Ioniq is one of the most popular electric cars on the market, and it’s clear from the results on Auto Trader that it’s a popular choice among consumers.

What’s driving EV adspend?

There are several reasons for this shift in advertising towards electric cars. As already mentioned, one of the biggest reasons is the increasing awareness of the environmental benefits of electric cars.

With the world facing a climate crisis, more and more people are looking for ways to reduce their carbon footprint, and electric cars offer a way to do just that.

Cost factors

In addition, the cost of electric cars has been declining in recent years, making them more accessible to a wider range of consumers.

This has contributed to the growth in popularity of electric cars, and as a result, they are being advertised more frequently.

Finally, the advancements in battery technology have improved the range of electric cars, making them a more viable option for long-distance travel.

This has helped to dispel some of the myths about electric cars being inconvenient and limited in range.

This trend is likely due to the growing popularity of electric cars, and consumers will likely see new models from Honda – with a rumoured EV SUV in the shape of the Acura ZDX due in 2024; Audi’s A6 e-tron, which is currently still a concept model; and even Ford is muscling in with its Explorer EV planned for this year.

With Hyundai’s Ioniq 5 bagging prestigious awards from the likes of GQ, we’re likely to see more ad campaigns targeting those in the market for a new car, and an EV in particular.

EV makers like Hyundai are clearly revving-up on the starting grid to make electric options more popular and accessible to a wider range of consumers.