It is high time to think of strategies to fight with the brutal recession. Many car manufacturers have tightened their budget for promotions and advertising in order to minimise expenditure. Some of the notable car companies like General Motors India, Honda Siel India, and Toyota Kirloskar have drastically cut down their marketing and advertisement budgets owning to the uncertain car market.
According to media reports, the advertisement fund has been reduced by 15-20 percent and is further expected to go down. Car manufacturers are concentrating on the print ads rather than the television ads for the promotion of new car launches. Companies like Toyota, Maruti Suzuki, Honda and Ford are working out for strategies for their cost cutting drive.
According to Anindya Banerjee, Senior Creative Director, Publicis India Private Limited, “ The global recession is affecting the Indian car market just like all other industries and due to this now car manufacturers will invest more on non-traditional media like internet”.