Hispanic car buyers are less likely than non-Hispanics to purchase cars
through traditional retail channels, and are more inclined to purchase Japanese
vehicles over domestic. Automakers and car dealers that want to pick up more
sales from this burgeoning car buying class will want to focus on Hispanic
youth who are more inclined to purchase new and will likely earn more, over
time.
To
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Table of Content
Scope and Themes
What you need to know
Definition
Data sources
Consumer survey data
Advertising
Abbreviations and Terms
Abbreviations
Terms
Executive Summary
Profile and demographics
Hispanics: among the fastest-growing
population segments in the U.S.
Figure 1: Population, by
race/Hispanic origin, 2008-18
Hispanics mostly reside in parts of
the U.S. where domestic automakers are less competitive
Figure 2: Auto brand purchase
behavior, by brand ever owned, April 2013
Car ownership and buying
More Hispanics own subcompact or
compact cars compared with any other vehicle segment
Figure 3: Vehicle ownership (any
owned/financed/leased), by vehicle class, April 2013
Hispanic less likely to purchase
vehicles through regular sales channels
Figure 4: Hispanic vehicle
ownership, by purchased new, used, CPO or private, by age, April 2013
Hispanics spend approximately
$17,400 on last car purchase
Figure 5: Amount spent on vehicle
purchase, most recently acquired (by new, used, or leased) vehicle, October
2011-November 2012
One quarter of Hispanic households
expect to buy a car within the next year
Figure 6: Expectation of when next
vehicle will be purchased, by Hispanic origin, October 2011-November 2012
42% of Hispanics plan on purchasing
a new car next time they buy
Figure 7: Future vehicle purchase:
expectation of next car bought new vs. used, by Hispanic origin, October
2011-November 2012
One third of Hispanics expect to
purchase same automotive brand as before
Figure 8: Attitudes toward
automotive dealerships, April 2013
Attitudes to car buying and the
purchase process
Hispanic men more concerned than
women about Spanish-language promotions at car dealerships and on automotive
websites
Figure 9: Attitudes toward
automotive dealerships, by gender, April 2013
Three fourths of Hispanic households
go to friends and family for advice
Figure 10: Information sources
likely used when car shopping, April 2013
Hispanics harbor poor perceptions of
American car manufacturers
Figure 11: Attitudes/opinions about
automobiles, Hispanic vs. non-Hispanic, October 2011-November 2012
What we think
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Issues and Insights
Hispanic car buyers are staying out
of the mainstream market by going private
The issues
The implications
Hispanic consumers shy away from
domestic auto brands
The issues
The implications
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