WILL PEOPLE BUY CARS ON TIKTOK?

Summary from the TLDR Marketing newsletter

TikTok is expanding into automotive advertising with two new ad formats. Inventory ads target buyers ready to purchase, while model ads focus on those still considering options. With 37% of adult users shopping for cars and 56% watching reviews, TikTok aims to move consumers from discovery to action. Early results show increased engagement and lower acquisition costs, with Peugeot (a French car brand) reporting a 95% improvement in cost-per-engage session, a 40% decrease in CPA, a 78% increase in CTR, and a 40% boost in engagement.