Will Hispanic Automotive Consumers Put The Brakes On Spending?

June 23, 2020 Author: Mario X. Carrasco

Multicultural minority groups collectively comprise one-third of the US population. Hispanic and Latino Americans have contributed to this significant demographic shift in the United States. Currently, more than 59 million Hispanics live in the United States. That massive growth is attributed to high rates of immigration and fertility.

However, COVID-19 and the associated impact on the global economy and the daily lives of US consumers is still playing itself out. With the speed at which consumer behaviors and environments are changing, companies and brands must be proactive in their preparation for the "new normal."

For Automotive companies, operations have been significantly disrupted – either ramped down or completely closed during the mandated lockdown. Marketing activities were also impacted. However, now is the time to dive into consumer insights to identify ways to navigate a post-COVID-19 market as the economy begins to reopen and recover.

To successfully navigate the "new norm," marketing to Hispanics must become a part of the overall corporate business strategy. This means replacing former truths with new intelligence and assumptions with insights.

In this report, you will get a detailed look at auto consumer segments through a multicultural lens, including population growth, household income, psychographics, and category insights. Our goal is to help you reach and engage US Hispanics authentically during this time.

Download our new guide, Automotive Consumer Market Report, powered by ThinkNow ConneKt.

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