PORT WASHINGTON, N.Y. (July 14, 2006) — Hispanic families in the U.S. use fewer vehicles per person than the average U.S. family, though they buy more products and services as proper care and maintenance is more important on those vehicles, according to a report released by NPD Group.
NPD, a provider of consumer and retail information, based its report, “Understanding the Hispanic Automotive Shopper,” on 567 Hispanic households reporting gasoline, automotive service and aftermarket product purchases as well as interviews of 1,575 consumers from NPD's online panel.
The study found that on a per-vehicle basis, Hispanic consumers buy more products and services than the U.S. population as a whole. Hispanic families also spend about twice as much time on vehicle maintenance, appearance and accessories than the general population.
The study also showed that when buying products, Hispanics tend to place greater importance on brand names and are more likey than the general U.S. population to remain loyal to a specific brand.
“Hispanic consumers are proving to be a valuable and growing consumer segment for companies selling a wide range of automotive care products,” NPD said in a statement.
In 2004, the U.S. Census Bureau reported that Hispanics represent about 14 percent of the U.S. population with a growth rate more than three times that of the average for the overall population.
“Hispanics are committed to vehicle maintenance and repair, which means there are significant revenue-generating opportunities for marketers who are able to tap into this growing group of brand-loyal customers,” said David Portalatin, automotive industry analyst for NPD.