What you need to know
Under normal circumstances, Hispanics overindex for being in car-buying mode. Since cars are big-ticket items that demand significant investment, Hispanics research the options available from different brands to make the right decision. Loyalty to a specific brand – while desired – is not always possible. The COVID-19 outbreak is certainly disrupting Hispanics’ car buying process. While many Hispanics will likely push back their purchases until the crisis passes and they feel more secure in their finances, the current situation creates an opportunity for car dealerships to offer a more personal and intimate approach to the car buying experience and diminish some of the tension that is intrinsic to car buying. This will undoubtedly facilitate a deeper emotional connection among Hispanic consumers with the auto brands that hit the mark.
Key issues covered in this Report
The impact of COVID-19 on Hispanics’ loyalty in automotive and purchasing process.
How Hispanics will approach the automotive post-COVID-19 slowdown
Hispanics’ emotional connection to their cars
What motivates Hispanics to remain loyal, and what drives them to switch
This Report was written in March, 2020, and updated on April 30, 2020 with the COVID-19 implications.
Scope
This Report explores how Hispanics relate to auto brands in regards to loyalty, including attitudinal questions, types and number of vehicles owned, emotional connectors to cars and switching motivators. The Report also includes an analysis of Mintel Trend Drivers influencing Hispanics’ behaviors in regards to loyalty in automotive.
Findings in this Report can be supplemented by analysis presented in other Mintel Reports, such as Creating Loyalty in Automotive – US, January 2020; Black Consumers' Loyalty in Automotive – US, April 2020, Hispanics and the Car Purchasing Process – US, July 2018 and Hispanics’ Perceptions of Auto Brand – US, March 2017, as well as other Reports from Mintel’s Automotive and Multicultural libraries.
