U.S. Hispanics are the driving force for growth in the auto industry. Hispanic sales have grown exponentially, and continue to outpace total market sales growth. Combine this with larger household sizes, a younger average age, and a higher likelihood to be buying a first or incremental vehicle, and it’s easy to see that Hispanics are truly an imperative target for auto marketers.
Sources: Polk New Vehicle Personal Retail Registrations (Sales and Leases), 1-3Q CY14, U.S. 2014 Spending projection based on 1-3Q CY14 Expenditures. GfK Hispanic Lower Funnel Auto Tracker Q2 2014 © GfK 2014. Simmons NCS/NHCS Spring 2014 FY. Base A18+. Most recently acquired vehicle was new.