R. L. Polk Reports Ford, Toyota and Chevrolet Lead Among Hispanic Americans
SOUTHFIELD, Mich., May 5, 2004 -- In the race to capture the increasingly influential Hispanic American consumer, Ford, Toyota and Chevrolet have distanced themselves from other automotive brands, according to R. L. Polk & Co.
In calendar year 2003, Ford captured 15.9 percent of all new vehicle registrations made by Hispanic Americans in the United States. Toyota and Chevrolet follow in a virtual dead heat, each with slightly more than 14 percent of the market among American consumers of Hispanic heritage. (See Table One)
In 2004, Toyota has made a strong push to solidify itself in the second position overall. In the first quarter of 2004, Toyota captured 37,353 Hispanic registrations, or 15.5 percent of Hispanic market share. This eclipsed Ford's share of 15.4 percent, or 36,989 registrations, during the first three months of 2004. (See Table Two)
"While they technically remain a minority group, Hispanic Americans can no longer be considered a niche market," said Lonnie Miller, director of analytical solutions for R. L. Polk & Co. "Hispanics are growing, both in numbers and consumer influence. Automotive manufacturers are taking notice and delivering products that appeal in all the traditional ways -- design, price, performance and utility."
Overall, Hispanic Americans account for 6 percent of the U.S. automotive market, compared to 4.8 percent in 1999. This represents a 25.7 percent increase in volume of new vehicle registrations in just five years. (See Table Three)
According to the U. S. Census Bureau, the percentage of U.S. population identifying itself as "Hispanic" grew much faster than the population as a whole -- increasing from 35.3 million people in 2000 to 38.8 million in 2002. Hispanics are now the nation's largest minority group, and are becoming increasingly more influential in their collective purchasing power.
During calendar year 2003, Los Angeles and New York retained their number one and two positions as the home markets of the most Hispanic auto buyers, with 185,165 and 74,883 registrations, respectively. Miami/Ft. Lauderdale was third with 70,613 registrations, followed by Houston with 40,033 registrations. (See Table 4)
"Over the past five years, the growing influence of Hispanic American consumers has become clear in many major markets," Miller said. "Over a five- year period, the Hispanic American automotive market has significantly outperformed the general market in several major metropolitan areas, including Los Angeles, New York, Miami and Dallas-Fort Worth." (See Table 4, final two columns)
About R. L. Polk & Co.
R. L. Polk & Co. is the premier provider of automotive information and marketing solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and Insurance companies, advertising agencies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Mich. with operations in Australia, Brazil, Canada, China, France, Germany, Italy, Japan, Mexico, the Netherlands, Spain, the United Kingdom and the United States. For more information, please visit www.polk.com .
Table One: Top 10 Brands Among Hispanic Americans by Volume 2003 CY
TOP 10 BRANDS BY VOLUME 2003 CY
Make 2003 CY HISPANIC SHARE OF HISPANIC
1 FORD 159,718 15.9%
2 TOYOTA 145,819 14.5%
3 CHEVROLET 143,938 14.3%
4 HONDA 91,935 9.2%
5 NISSAN 70,900 7.1%
6 DODGE 66,204 6.6%
7 GMC 37,652 3.8%
8 HYUNDAI 26,356 2.6%
9 MITSUBISHI 22,357 2.2%
10 JEEP 20,546 2.0%
Source: R. L. Polk & Co.
Based on total new vehicle registrations
Table Two: 1Q 2004 by Brand
TOP 10 BRANDS AMONG HISPANIC BUYERS IN 1Q 2004
Make 1Q04 HISPANIC SHARE
1 TOYOTA 37,353 15.5%
2 FORD 36,989 15.4%
3 CHEVROLET 31,550 13.1%
4 HONDA 22,077 9.2%
5 NISSAN 21,890 9.1%
6 DODGE 15,458 6.4%
7 GMC 8,992 3.7%
8 HYUNDAI 5,623 2.3%
9 JEEP 5,380 2.2%
10 MAZDA 4,643 1.9%
Source: R. L. Polk & Co.
Based on total new vehicle registrations
Table Three: Total Hispanic American Market Share
HISPANIC HISPANIC HISPANIC HISPANIC HISPANIC
2003 CY 2002 CY 2001 CY 2000 CY 1999 CY
TOTAL HISPANIC 1,003,652 1,026,977 971,244 922,718 798,519
% CHANGE FROM
PREVIOUS YEAR -2.3% 5.7% 5.3% 15.6%
SHARE OF TOTAL 6.0% 6.1% 5.7% 5.2% 4.8%
5 YEAR CHANGE 25.7%
Source: R. L. Polk & Co.
Based on total new vehicle registrations
Table Four: Top Ten Markets for Hispanic New Vehicle Registrations - 2003
TOP 10 DMAs FOR HISPANIC NEW VEHICLE REGISTRATIONS - 2003 CY
Trends & Comparison with Total Market Registrations and Growth
1 YEAR CHANGE 5 YEARS CHANGE
DMA(R) SHARE OF % UNIT % UNIT % UNIT % UNIT
HISPANIC CHANGE CHANGE TOTAL CHANGE CHANGE TOTAL
MARKET HISPANIC MARKET 2003 HISPANIC MARKET 2003
2003 CY MARKET 2003 vs. 2002 MARKET 2003 vs. 1999
vs. 2002 vs. 1999
1 LOS ANGELES 18.4% 0.9% 3.0% 38.9% 16.1%
2 NEW YORK 7.5% -2.2% 2.6% 21.8% 7.3%
3 MIAMI/FORT
LAUDERDALE 7.0% -3.0% -4.0% 28.2% -25.9%
4 HOUSTON 4.0% -10.7% -6.5% 15.4% -4.8%
5 SAN FRANCISCO/
OAKLAND/
SAN JOSE 3.6% -11.6% -8.0% 5.4% -11.1%
6 DALLAS/
FORT WORTH 3.2% -14.6% -5.8% 21.8% -3.2%
7 SAN ANTONIO 3.3% -10.1% -2.3% 18.0% 2.4%
8 CHICAGO 3.3% -5.9% -3.5% 6.7% -6.9%
9 SAN DIEGO 2.5% 1.3% -2.0% 39.3% 9.7%
10 HARLINGEN/
WESLACO/
BROWNSVILLE 2.4% 1.8% 1.3% 42.7% 22.4%
Source: R. L. Polk & Co.
Based on total new vehicle registrations