In a recent analysis conducted by R. L. Polk, a U. S. vehicle sales reporting agency, they determined some interesting statistics about brand-loyalty and ethnicity, as it relates to the 2011 calendar-year.
- Last year 1,033,097 African American, Asian and Hispanic new-vehicle owners returned to the market to buy another vehicle. At least 47 percent of these buyers supported the same manufacturer. This share of buyers is on par with the general population. For instance, those who previously owned a product built by GM purchased another product from GM.
- Toyota had the largest share of the returning ethnic population by having more African Americans, Asians and Hispanics return to the market for a new vehicle than any other brand. Fifty-four percent bought another Toyota brand vehicle.
- Ford had the second largest population of African Americans return to market with 62% buying another Ford vehicle.
- Honda had the second largest number of Asians and Hispanics return to market volumes with 52% of the ethnic population buying another Honda vehicle.
- Some 67% of the Cadillac's and Lincoln's African American owners bought another vehicle from General Motors and Ford, respectively.
- Sixty-six percent of Buick's African American owners bought another vehicle from General Motors.
As we all know, the goal of any successful business is to generate brand-loyalty. Less money and time is spent on advertising to repeat customers. As long as you're providing the customer with the product and service they expect, its easier to keep them happy and they're more than likely to be a repeat buyer. So, based upon this analysis, a number of the import brands, looking to go mainstream have their work cut-out for them, if they're looking to grow new-vehicle sales and truly become inclusive. View this candid interview we recently had with the lady who is working behind the scenes to make sure automakers are more inclusive.
