NEW YORK Porsche North America has made a further cut in the agencies pitching its $40 million ad account, according to Ark Advisors, the consultancy managing the process.
Two agencies have been cut, leaving four. The finalists are Interpublic Group's Carmichael Lynch, the incumbent in Minneapolis, and sister shop The Martin Agency in Richmond, Va., as well as independents Cramer-Krasselt in Chicago and SS&K here.
Eliminated from the process were independent mcgarrybowen here and IPG's Hill, Holliday, Connors, Cosmopulous in New York.
There had been seven contenders in the previous round, but independent Anomaly, New York, withdrew before client visits began.
Previously, the account had been valued at $25 million, but, per sources, the carmaker plans to increase ad spending in the coming year.
Porsche N.A. is looking to name a winner by the end of summer or the beginning of fall.
The review was spurred by the recent promotion of David Pryor to svp of marketing and the company's planned launch of a four-door sedan in 2009.