New format earns Facebook a larger slice of auto ad spend
New ad formats, particularly carousel advertisements, have gained popularity, posting a 55% increase in campaigns from Q2 to Q3 2015, according to HPS’s fifth Automotive Facebook Advertising Benchmark report. Within this, Facebook has captured an increasing share of the automotive advertising spend, as Martin Watts, Associate Director of Digital Marketing with HPS said, "used car listings are proving to work exceptionally well with Facebook’s carousel ad format. I think we could see a real shift in spends away from dedicated used car sites over to Facebook and Instagram as we head into 2016."

New research published in HPS’s fifth Automotive Facebook Advertising Benchmark report has revealed that new ad formats are helping the social media giant to capture an increasing share of automotive advertising spending.

HPS's associate director of digital marketing, Martin Watts.

The research shows that, throughout Q3, marketers have continued to increase mobile ad spending on Facebook, both globally and in the automotive industry. Carousel advertisements, in particular, have gained in popularity rapidly, with an increase of 55 per cent more campaigns than seen in Q2 of this year.