Wednesday, March 6, 2013

Factoids: How Women And Minorities Are Driving the Industry

The Top 5 Automotive Brands For Women:

Toyota (13.1%)
Honda (11.9%)
Ford (10.7%)
Chevrolet (10.0%) 
Nissan (9.2%)

Source: Based on market share, according to Polk's 2011 New Vehicle Registrations data (year-to-date through October)
In 2011, African Americans accounted for $30 Billion in new vehicle sales.(source Target Market News)

Combined growth of the volume of vehicles purchased by the ethnic community in the U.S. increased 22 percent from 2011 to 2012, according to Polk, while the overall market grew just 14 percent.

Minority women in the U.S. buy an even greater share of automobiles — 41 percent — than do non-minority (white) women, who account for 37 percent. (source: R. L. Polk)

Ethnic buyers represented one in five (21 percent) new vehicle purchases in the U.S. in 2012.  (source RL Polk)

The gender splits among African-American and Asian populations: In both groups, women bought 48 percent of new vehicles in 2012, compared with men, who bought 52 percent. These statistics are key indicators for the future of the automobile industry.(source: RL Polk)

Asians accounted for nearly half of the U.S. population gain in the past decade, the African-American population will grow by 30 percent by 2030 and the nation's population will be nearly 20 percent Hispanic within the next two decades, according to the U.S. Census Bureau. This means that these groups will be driving new-vehicle sales.


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