Thursday, November 10, 2011

Study Reveals Automakers Not Courting Black Consumers for Hybrid/Electric Vehicles

The hybrid and electric vehicle market is having a tough year in 2011. Sales for hybrid vehicles are down 2.7% through August 2011, despite the fact that U.S. vehicle sales are up 10.5%. While automotive companies would suggest that a sluggish economy and lack of supply are hurting hybrid vehicle sales, a recent report from Mintel suggests instead that there is a lack of desirable product for certain demographics.
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“Most believe the profile of the hybrid vehicle owner is a person between the ages of 35-55, with a household income over $75K, and a college education or higher. While this may be the current owner, the biggest potential in the market is with Black consumers,” says George Augustaitis senior automotive analyst at Mintel.

Consumer research shows that nearly 12.5% of the Black demographic.... to continue reading, click here.

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