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Focus of CATA seminar on Oct. 20

November 23, 2010
The country's Hispanics number more than 39 million, and they are expected to comprise 25 percent of the U.S. population by 2050. That phenomenon could greatly impact the automobile market; Hispanics in 2003 spent $163.5 billion on new and used cars. Dealers are developing new strategies to target Hispanics. An Oct. 20 seminar at the CATA, presented by Telemundo Chicago, Hoy and 107.9 La Ley, examines the topic. See the seminar registration form in this newsletter. A study by J.D. Power and Associates indicates Hispanics account for 8 percent of all new-vehicle sales, a figure that could rise to 13 percent by 2020. Dealers are making strides to get Hispanic customers to their showrooms, but experts warn of pitfalls if Hispanics are approached like other minority groups. More than thinking about language on dealer Web sites and during the sales, F&I, and closing process, dealers are urged to learn which particular dialect of Spanish their Hispanic patrons use. Says dealer consultant Mauricio Espinosa: "There are 17 different Hispanic words for 'wheel' or 'tire.' Your translated flyer may not make any sense if it is translated in one dialect and your customers come from another dialect." Also, newly arrived Hispanic customers may have no credit history, making it hard to find a lender. Cash sales are common.