Entre Nosotras: Auto Trends Report [REPORT]

Meredith Hispanic Media (MHM), publisher of Siempre Mujer and Ser Padres magazines, released findings from its Auto Trends Report detailing the car-buying habits and attitudes of the modern Latina. The study surveyed MHM’s “Entre Nosotras” (“Between Us”) database of 5,000 loyal and influential subscribers to identify key insights on purchase intentions, considerations, behavior and more.

These insights are particularly relevant for marketers this year, since the auto industry predicts that 2014 sales will return to pre-recession levels. And because Hispanics command significant buying power—they account for a growing 17 percent of the U.S. population—understanding their purchasing decisions will greatly impact the industry.

Takeaways from the survey:

·        Latinas plan to buy! Nearly one in three respondents will consider buying or leasing a new car within the next year, and more than half plan to do so within the next two years.
·        Brand is important. When shopping for a new vehicle, 52 percent list “trust in the vehicle brand” as the most important factor. Latinas are also brand loyal: 73 percent will stick with a brand they trust, while 92 percent agree that they will recommend a vehicle they like and 82 percent take car recommendations seriously.
·        They know what they want. Before arriving at a dealership, 72 percent of those surveyed say they have already chosen a vehicle. And they’re unlikely to be swayed—95 percent ultimately went with their original choice.
·        Price isn’t everything—it’s about the whole package. Nearly half of Latinas consider the overall features and value of the vehicle the most important factor when purchasing a car. 30 percent listed price, while only 15 percent listed the financing package.

To download report CLICK HERE.