Hispanic Auto Market Bigger Than Previously Estimated

BANDON, Ore., July 18 -- The Hispanic new-vehicle market is larger than previous industry estimates, according to a new study by CNW Marketing Research, Inc.

Until now, Hispanic share of new-vehicle sales have been estimated at about 8 percent. CNW's most recent Native-Language Study showed actual Hispanic purchase share of 13.3 percent or roughly 2.3 million units in 2001. That share is forecast to increase to 13.6 percent in 2002.

Other results:

-- Hispanic new-vehicle shoppers rely more on family and friends for vehicle recommendations than non-Hispanics. -- Hispanic new-vehicle owners are three times more loyal to a brand than their non-Hispanic counterparts. -- When Hispanics select a market segment from which to buy a vehicle, they are more than twice as likely to actually buy a vehicle in that segment. Most non-Hispanics will bounce from segment to segment before finally choosing a car or truck. -- First-generation Hispanic emigres find Spanish-language ads, brochures and other marketing material to be extremely or very important. That falls to about 41 percent among second or later generation Hispanic households.

The CNW study looks at every brand, make and model for the full 2001 calendar.

The survey was conducted among more than 96,000 respondents over a 13-month period with bi-lingual phone interviewers. The survey language was the respondent's choice. The households were at least 50 percent Hispanic descent.