U.S. Hispanic Auto Buyers Balance Fuel Economy with Space–Efficiency According To Automotive Report in Hispanic Business Magazine

“The November issue of Hispanic Business magazine features its annual automotive report with a detailed analysis of how automakers and U.S. Hispanics are responding to expensive gasoline and disarray among American automakers. While fuel economy is a key factor in purchasing decisions, industry experts say that U.S. Hispanics still shop for the “most car they can get,” partly due to their increasing affluence and larger family sizes.

“People don’t want to buy small cars. What they want is fuel economy. Families look for space-efficient vehicles. Hispanics in the United States are used to a size of vehicle that will bring them crash protection as well as carry stuff and the family,” states Alvaro Cabal, assistant regional manager for public affairs at Ford Motor Co.’s Southeast region.

Meanwhile, with new personal registrations among Hispanics increasing by 24.4 percent between 2003 and 2005, automakers are becoming more savvy in courting this increasingly influential demographic. An example of this growing trend in media spending can be seen in GM’s and Ford’s increasingly targeted mix of media formats, linguistically targeted ads, and community events.

The automotive report also includes a list of the top 20 Hispanic-owned automotive companies in the United States. Centennial, Colo., based Burt Automotive Network, which ranked third on the 2006 Hispanic Business 500(R), topped off the list with revenues of $2.107 billion in 2005, an increase of 9.4% since the previous year. Other top automotive companies included Ancira Enterprises Inc., of San Antonio, Tex.; Elder Automotive Group of Troy, Mich.; Lou Sobh Automotive of Duluth, Ga.; and Greenway Ford Inc., of Orlando, Fla. For a complete list of the top automotive companies, visit www.hispanicbusiness.com. “

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