Friday, April 29, 2011
8747: Black People Love Their Rides.
In 2010, Black car buyers created a sales increase that was over 68 percent greater than White purchases, according to Polk. Toyota was the favorite brand among Blacks (with a 15 percent share of market), followed by Ford (11.7 percent), Chevrolet (11.4 percent), Honda (11.3 percent), Nissan (10.2 percent), Hyundai (5.6 percent), Kia (4.2 percent), Dodge (4.0 percent), GMC (2.8 percent) and Volkswagen (2.2 percent). Black consumer market growth leaders were Buick (72.2 percent), Hyundai (53.2 percent), Kia (34.6 percent), Cadillac (34.4 percent), GMC (33.6 percent), Infiniti (30.9 percent), Subaru (28.3 percent) and Audi (27.1 percent). “With the U.S. population growing faster in the African-American segment than others, there’s a significant opportunity for automotive manufacturers and dealers to begin to align marketing initiatives toward this specific audience,” said the product strategist at Polk. “Those companies that are ahead of the curve, like Toyota, are already reaping the rewards.” Gee, maybe that’s why General Motors quietly hired Black ad agencies in late 2010 after dumping minority firms in in recent years—plus, GM appointed a new Diversity VP.