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Recent
reports reveal significant insight into diverse vehicle
shopping preferences among different ethnic groups:
African, Asian and Hispanic Americans. Compiled from
interviews with more than 20,000 in-market vehicle shoppers,
data and analysis covers a wide variety of purchase
consideration factors including low monthly payment
rates, financing options and vehicle types.
The study was administered by Harris Interactive and
Kelley Blue Book Marketing Research and may be able
to help auto makers in future marketing endeavors.
"The
AutoVIBES Ethnicity report series provides invaluable
information for automotive marketers by showing a complete
picture of the influences and issues affecting different
ethnic groups," said Rick Wainschel, vice president
of marketing research and brand communications for Kelley
Blue Book. "Armed with the comprehensive knowledge
contained in these reports, manufacturers will better
understand the dynamic factors behind vehicle purchase
decisions among different ethnic backgrounds, and communications
teams will be able to more specifically tailor future
messaging and advertising to effectively reach desired
target audiences."
Study
Findings:
Several differences can be found between different ethnic
groups when it comes to vehicle shopping. According
to the 2006 study, African American vehicle shoppers
find low monthly payments as most appealing, while Asian
and Hispanic Americans see low finance rates as their
most appealing incentive option.
When
it comes to hybrid vehicles, the most likely group to
consider one are Asian Americans (80 percent) while
only 66 percent of African Americans are open to considering
a hybrid.
Vehicle
shoppers from different ethnic heritages also own and
consider diverse makes:
African Americans:
Own: Ford, Chevrolet, Nissan, Toyota, Honda
Consider: Toyota, Nissan, Chevrolet, Honda Ford
Asian Americans:
Own: Toyota,
Nissan, Honda, Ford, Chevrolet
Consider: Toyota, Honda, Nissan, Acura, Lexus
Hispanic American:
Own: Ford, Chevrolet, Toyota, Honda, Dodge
Consider: Toyota, Honda, Ford, Nissan, Chevrolet (CONTINUE...)
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