Lévy: 'Publicis set to suffer from car market downturn'

LONDON - Publicis' chief executive, Maurice Lévy, yesterday admitted that his company would be hit by a downturn in the car market.

Maurice Lévy...chief executive of Publicis
Maurice Lévy...chief executive of Publicis

Speaking to the International Herald Tribune, Lévy said that GM and other car-makers have already cut adspend, and would do so again next year.

Along with GM, Publicis has car manufacturing clients including Renault, Toyota and Fiat.

Lévy said of GM: "Nobody should think they are not conscious of cost. They are very tough on us."

Publicis expects further reductions from GM and other car-makers as they streamline their product offerings, he added.

He also predicted that 15 per cent of global adspend would be online by 2015, and that Publicis wanted to make digital acquisitions in China and India.