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Hispanic Auto Market Continues to Boom

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  • Remy Chevalier
    From: Jori Victor jvictor@ 5wpr.com Thursday, April 6, 2006 Hispanic Auto Market Continues to Boom With the New York International Auto Show April 14th - 23rd,
    Message 1 of 1 , May 2, 2006
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      From:
      Jori Victor
      jvictor@ 5wpr.com

      Thursday, April 6, 2006

      Hispanic Auto Market Continues to Boom

      With the New York International Auto Show April 14th - 23rd, most of the
      focus will be on the cars themselves, but for today's automakers,
      understanding the shift in demographics is where the true profit margins
      are. According to Joseph Anthony, CEO of Vital Marketing
      (thevitalgroup.com), one of the fastest growing multicultural marketing
      agencies in the country, reaching the Hispanic auto buyer has become among
      the surest way for major automakers to boost their 2006 revenues. The
      acculturation across all age groups, means that Hispanics need to be
      marketed towards for sports, family and economy cars. Automakers are
      beginning to wake up to this especially in their media buys, which include
      Univision and Telemundo as well as mainstream broadcast networks.

      Despite the overall sales loss in the automotive industry, the Hispanic
      car-buying marketplace continues to boom. With companies spending upwards of
      $3 Billion in targeted ad & marketing campaigns towards Hispanics over the
      last year, the automotive sector is clearly one that has tremendous growth
      potential . Buying at a higher rate and spending more on automobiles and
      aftermarket accessories than other demographics, the Hispanic market has
      become a force to be reckoned with for today's auto companies.

      "With an estimated $690 billion in spending power, the Hispanic car buyer
      needs to be a continued focus," said Anthony, CEO of Vital Marketing. "This
      is especially true in major metropolitan areas like New York automotive
      companies need to make targeted and specific outreach to this demographic in
      order to gain brand loyalty and in turn drive revenues."

      To speak or meet with Joseph Anthony during next week's New York
      International Auto Show about the spending power of the Hispanic and
      Multicultural auto market, please contact me 212-999-5585 or jvictor@
      5wpr.com.

      Best,
      Jori
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