Sales to Hispanics outpacing the market - Automotive News
Automakers are intensifying their pursuit of Hispanic car buyers in the U. S. , and for one big reason: That's where the growth is. In fact, Hispanic consumers could well be the auto industry's leading growth engine for the next 20 to 30 years,... In a period of booming new-vehicle sales, Spanish-speaking or Hispanic culture-identifying buyers are crucial to automotive brands' success. Last year, Hispanic buyers delivered 96 percent of Ford and Chevrolet's combined year-over-year retail sales growth, 33 percent of Nissan's, 35 percent of Toyota's and 100 percent of Honda's, according to IHS Automotive's Polk market data unit. Total industry retail sales increased 5. 9 percent last year, outpacing 2013 results by 921,636 cars and light trucks. But retail sales to Hispanic consumers rose 15 percent, contributing more than 250,000 sales to that increase, according to IHS. Toyota on top The "Big Three" brands of Hispanic-market sales -- Toyota, Nissan and Honda -- are leading the hunt. Toyota has ranked as the top-selling brand among Hispanic consumers for the. Source: www.autonews.com
