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Minority new-vehicle buys up 11% since ’03: Polk

November 17, 2010

New-vehicle registrations among ethnic groups increased nearly 11 percent from 2003 to 2006, according to data released July 24 by R. L. Polk & Co. Hispanics, Asians and African Americans are represented in the category. 

Polk also reports non-ethnic new-vehicle registrations are down 7 percent for the same timeframe.

 

"Auto manufacturers can no longer afford to ignore ethnic markets or assume that they will respond to mainstream marketing," said Polk’s Mark Pauzé. "Manufacturers that focus on these markets and measure their progress are making important inroads with them." 

Polk’s enhanced data on ethnic markets shows who owns and buys vehicles based on the actual registered owner, not just the characteristics of the neighborhood in which they live. The data also utilize two independent sources to provide detailed segmentation of Asian, Hispanic, African American and many other ethnic groups.

 

"By targeting minority customers with messages that resonate with their own unique heritage and culture," Pauzé said, "automakers and dealers can strengthen relationships, create deeper bonds with customers and sell more vehicles. Polk’s new methods for tracking minority customers will allow automotive marketers to analyze the ethnicity of eight major ethnic groups and up to 287 individual ethnic backgrounds.

 

Polk’s new ethnic coding system has increased our coverage and accuracy in identifying ethnic households across the board" added Pauzé.

 

In its ethnic automotive analysis, Polk studies ethnic vehicle choices by segment, make and model; ethnic vehicle-buying populations mapped on a national and regional level; brand loyalty; and demographic analysis comparing different ethnicities to the general market.

 

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