Innovation: Hispanic SubCulture Data Supports Growth In Auto Industry
Date Introduced: 2013
Award Recognition: Award of Excellence
The Hispanic consumer represents 11 percent of new vehicle registrations in the U.S. and each automotive brand wants to know if their Hispanic share is increasing, declining, or neutral. For a long time, the auto industry viewed the Hispanic/Latina auto buying community as a single metric. For that reason, in January 2013 Polk launched Hispanic subculture new and used vehicle registration data.
The innovations helps the auto industry assess Hispanic volume and share changes based on a multitude of variables, including geography, different vehicle details, and time periods to create or support both internal and external diversity strategies.
The data helps automotive ad executives create relevant regional and grassroots marketing campaigns to specific Hispanic subcultures. The industry has come to recognize there are small but sometimes important differences in dialect and auto preferences amongst the different Hispanic communities. It has also increased awareness, causing manufacturers to hire Hispanic advertising agencies and diversity leaders.