SiriusXM's 'Auto Trends' Talks To A Multicultural Auto Sales Analyst About The 'Future Majority' (Two Shows)

 

Marc Bland, S & P Global Mobility's chief diversity officer, joins Auto Trends with JeffCars.com to talk about the car-buying trends of the 'future majority.'

In a two-part conversation, Bland, who is also known as a multicultural sales auto analyst, joins us to discuss the new vehicle buying habits of women and ethnic minorities. We'll explore 2023 CYTD new vehicle sales by gender and ethnicity, while examining hybrids, gasoline vehicles and electric cars. 

SiriusXM's 'Auto Trends' Honors Women's History Month Highlighting Diversity And Equity Advocates

As we honor Women’s History Month, Auto Trends with JeffCars.com highlights Kathy Gilbert and Cheryl Thompson. Both have blazed phenomenal trails while being recognized as champions of diversity in the automotive industry.

According to a 2022 article by CNBC, women currently control approximately $10 trillion in U.S. financial assets. However, when analyzing the automotive industry, this group has been underrepresented historically.

The latest stats by Catalyst.org reveal that women only hold 26 percent of the jobs in the motor vehicle manufacturing field despite accounting for between 40 to 51 percent of registered new vehicle sales when based on ethnicity and traditional household data, according to S & P Global Mobility.

'Auto Trends' Kicks Off Black History Month with GPS Pioneer Dr. Gladys West

The Lt. Gov. of Virginia and Dr. Gladys West

In this day and time, where self-promotion is the name of the game, social media outlets and reality TV shows provide the perfect platform for those, with and without talent, yearning to be discovered.

However, every blue moon those not obsessed in living in this selfie generation manages to surface above the noise, even when they are not seeking attention. After years of quietly enjoying retirement, the world is just now discovering another ‘Hidden Figure.’

'Auto Trends' Talks To A Mother-Daughter Team Who Hold The Keys To Two Of Mercedes-Benz Black-Owned Dealerships (Two Shows)

                                               Grene Baranco (l) and Juanita Baranco (r) (photo credit: G&J)

With less than 6 percent of today’s nearly 17,000 new-vehicle dealerships being minority-owned, its literally like finding a needle in a haystack to come across a mother-daughter dealership team. More specifically, a mother-daughter squad who have a financial stake (and hold key positions) in 2 out of 7 of Mercedes-Benz’s black-owned dealerships. The family owned stores are located in Atlanta, Georgia and Covington, Louisiana.

According to the National Association of Minority Automobile Dealers (NAMAD), 95 percent of today’s minority owned dealerships are first-generation dealerships. However, when it comes to minority dealers, especially Black dealers, the numbers are grave. One means of creating general wealth is through owning dealerships. They are literally cash cows, if run properly. This prominent Atlanta family has made provisions to hand the keys off to one of their daughters, when the time becomes appropriate, as opposed to allowing the business to slip outside of their hands (into other communities).

'Auto Trends' Talks Sales Trends with IHS' Minority Auto Analyst Marc Bland

Are automakers ads, marketing, etc. reflective of today's multicultural car buyers and their spending power? Find out this year's car-buying trends and more, as IHS's analyst Marc Bland joins us to recap this year's sales.

To hear the show on one of our FM affiliates this weekend, click here.

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Women's Car Study: Different Ethnicity, Different Preferences (Part II)

Source: R. L. Polk  ( To enlarge the chart, click on it.)

The table above identifies the Top 5 vehicles selected by women for each ethnic group, plus the top European and domestic selections for each group. You will quickly notice the Top 5 list is dominated by Toyota, Honda, Nissan and Hyundai respectively. With Hyundai getting the nod via support from the Korean and African American women.

To view Part I of  our Women's Car Study: Different Ethnicity, Different Preferences, click here. 

Women's Car Study: Different Ethnicity, Different Preferences (Part I)

The VW Jetta is the top European model with both African American and Hispanic women.  

The BMW 328 is the top European model purchased by Indian women.

The Mercedes-Benz S-Class is the top European model purchased by Asian women.

Not only are women making waves in corporate America, but this group, specifically ethnic women are steering today's car sales. Ethnic women have increased their new-vehicle purchase share 4.7 percentage points, moving from 40.7% in 2006 to 45.4% in 2010. This growth is nearly double the rate of white women overall, according to R. L. Polk. In fact, Indian women purchase more vehicles than their male counterparts. And Asian women aren't too far behind their male counterparts, purchasing nearly 49 percent of new-vehicles in their community. Forty-eight percent of African-American women and 41.6% of Hispanic women make new-car buying decisions.

Ironically, Asian women are more than likely to support their own brands (Honda, Toyota, Hyundai, Kia) since domestic (GM, Ford and Chrysler) vehicles are not high on their shopping list. Conversely, Hispanic and African American women are helping to drive the sales of the domestic makes.

Stay tuned for Part II of this revealing study.