2012 hispanic impact on chevrolet vehicle sales
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Transcript of 2012 hispanic impact on chevrolet vehicle sales
2012 HISPANIC IMPACT ON CHEVROLET
VEHICLE SALES
December 1, 2012
Prepared by John A. Lopez Dir. New Business DevelopmentEncore Automotive Media310 877-5689
Encore Media 10736 Jefferson Blvd., Ste 936 Culver City, CA 90232 Mobile [310] 877-5689
Hispanic consumers are as likely to buy Japanese midsize sedans as they are to purchase small, fuel-efficient American cars, according to Polk, and are as attracted to Ford F-series pickups as they are to Chevrolet Silverado’s and Ram trucks.
The Hispanic contribution to New Vehicle sales from January to June 2012 was $13.8 billion; this figure represents approximately $28 billion on an estimated projected annual basis.
Toyota, Nissan, Honda, Chevrolet and Ford were the top five brands preferred by Hispanic consumers during that time period.
Marc Bland: Polk Research
HISPANICS PURCHASED $13.8 BILLION IN NEW VEHICLES THE FIRST 6 MONTHS OF
2012
Median resident age: 33.1 yearsCalifornia median age: 33.3 years
Males: 769,384 (49.8%)
Females: 776,003 (50.2%)
Races in Riverside County, California:•Hispanic or Latino (43.2%)•White Non-Hispanic Alone (42.5%)•Black Non-Hispanic Alone (5.9%)•Asian alone (5.1%)•Two or more races (1.9%)•Some other race alone (0.7%)•American Indian and Alaska Native alone (0.5%)
Riverside County is
43.2%Latino
Average HH Income: $75,266 per year
Since U.S. Hispanics represent the fastest-growing segment of the U.S. consumer market, it stands to reason they are in the driver’s seat of the present and future automobile boom in the U.S.
Lets see why Hispanics are such an important Part of the Automotive Sales
Segment.
4,779,11832.8%
1,157,6228.0%
1,274,9678.8%
7,230,15949.8%
Hispanic Hispanic
Black
Asian White White Asian
1,238,722 7.0%
Black*
7,451,192 43.1%
+10.3 increase
1,981,751
11.2%
6,440,053 36.5%
Multi-Race 346,284
1.5%
Other 115,673
.7%
Other89,663
.6%
Source: Ethnic/Racial Composition of Los AngelesU.S. Census Bureau includes counties of L.A., Orange,
Ventura, Riverside and San Bernardino
Hispanics in Los Angeles now Outnumber White Non-Hispanics
Population Facts
2010 Census1990 Census
MEDIA: TELEVISION
Research shows that Hispanic families are larger and in fact watch TV together. Meaning your message can reach multiple demographics at the same time.
Telemundo FAM Study 2012
Hispanic Contributionto Auto Industry fromJune 2011 - June 2012Comparison.
A 26% boost in sales
Hispanic Regional Share Market.
Los Angeles is by far the #1 market for “New Vehicle” Purchases by Hispanics at 16%
BiggestHispanic Car Segments
The biggest segments for Hispanics are pickups compacts, midsize cars, compact crossovers. These segments are setting the stage for the redesigned Malibu, as well as a brand-new platform for Chevrolet Silverado and the Cruze. Chevrolet’s focus on space, miles per gallon, styling and technology are key features that resonate strongly with Hispanic consumer.
Tia Hardeman, Marketing Manager GM.
Chevy is the # 1 Selling Domestic
Brand Among Latinos
Top 10 National Brands Hispanic Car Buyers
CHEVROLET IS AMERICA’S #1 DOMESTIC BRANDWITH HISPANICS
56,352,461 UNITSBY VOLUME HSYTD 2012
GM Company Sales U.S. Light Vehicle
0
50,000
100,000
150,000
200,000
250,000
Company Sales Oct 2011 vs. Oct 2012
GM
Ford
Chrysler
Toyota
Honda
U.S. Light Vehicle Sales Source: WardsAuto ©2012
National Hispanic Population Profile by origin
2010 Pew Hispanic Research
Hispanics by U.S. County
In Los Angeles County Mexicans make up 11% of the overall total. However, it’s important to note that in some Los Angeles zip codes Hispanic density is 99-100%
The Hispanic population in the United States grew by 43% in the last decade, surpassing 50 million and accounting for about 1 out of 6 Americans, according to the U.S. Census Bureau.Overall, Hispanics accounted for more than half of the 27.3 million U.S. population increase since 2000
Ranking of Top 10 U.S. Light Trucks and CarsBy Vehicle 2012
U.S. Top 10 Cars October 2012 (YTD)
YTD Sales
CAMRY Toyota 344,714
ACCORD Honda 276,196
ALTIMA Nissan 258,663
CIVIC Honda 254,716
COROLLA/MATRIX Toyota 243,652
FUSION Ford 206,855
FOCUS Ford 205,006
CRUZE Chevrolet 199,721
SONATA Hyundai 192,119
MALIBU Chevrolet 189,094
Source: WardsAuto InfoBank
U.S. Top 10 Light Trucks October 2012 (YTD)
YTD Sales
F SERIES Ford 489,806
SILVERADO Chevrolet 336,939
CR-V Honda 233,586
RAM PICKUP Ram 230,241
ESCAPE Ford 219,907
EQUINOX Chevrolet 182,249
RAV4 Toyota 145,103
EXPLORER Ford 132,023
SIERRA GMC 126,749
GRAND CHEROKEE Jeep 123,994
Hispanics represent a significant and important part of the Riverside automotive market.
Increase your leads, sales and profits by embracing this market in 2013.
Findings/Conclusions
OUR CONCLUSIONS FOR SINGH CHEVROLET
•Hispanic customers are the largest ethnic segment of the Chevrolet buyer profile•43.2% of Riverside’s population is Hispanic•Los Angeles is the nations largest population center of Hispanics •Los Angeles is the #1 DMA market for national Chevrolet sales to Hispanics•Chevrolet has an ongoing relationship with the Hispanic car buyer•Hispanics purchased $13.8 Billion in new vehicles in the first 6 months of 2012
Based on city research, demographics and buying characteristics, Encore Media can safely conclude that with Riverside’s large Hispanic population, there is significant Hispanic buying clout in the county and the surrounding zip codes to the dealership. We therefore recommend that a regular and sustainable Hispanic branding program be launched to reach Spanish speaking car buyers to invite them to the dealership. By doing so, Singh Chevrolet will receive a significant boost in leads, sales, community support and long-term future profits.