Honda, Toyota and BMW are the brands most likely to be “definitely considered” by ethnic buyers, a new survey finds.
BMW is tops among African Americans. Toyota is No. 1 for Latino Americans, and Honda is the brand named most by Asian Americans, says Stategic Vision, which conducted the survey.
The result sound significant: BMW preference among African Americans is 14 percentage points higher than with the U.S. industry average of 23%.
The study finds that different sets of buyers have different priorities when it comes to buying a new vehicle. While buyers in all groups, for instance, regard reliability, durability, quality and manufacturer’s reputation, as top consideration, they vary when it comes to which is most important.
African Americans, for instance, see manufacturers’ reputation as “extremely important” some 61% of the time, compared to 50% for whites.
When asked what they liked most about the cars they bought, groups vary, too, by what they name most often.
African Americans say they liked that their cars were classy, cool, youthful and sophisticated. Latino Americans listed their top vehicle attributes as powerful, cool, modern, sexy and elegant. Asian Americans put cars that are family-oriented first, then cool, smart, helpful and luxurious, according to Strategic Vision.
The survey says African Americans were most concerned about price and monthly payment, while both Latino and Asian Americans put prestige first. Africans Americans put audio/video systems in second place while Asian Americans were the only ones to list navigation, technical innovations and product reviews as being top five purchase reasons.