What you need to know
Loyalty in automotive is rooted in four pillars: shared trust between carmakers and buyers, transparency in communication, automakers’ understanding of drivers’ wants and needs, and demonstrated reliability. Prior to the COVID-19 outbreak, Black consumers were more likely than the average to be considering a vehicle purchase. However, the economic disruption caused by the pandemic and resulting financial pressure Black consumers will face as a result will likely delay purchasing. Although Black consumers will put off big-ticket purchases for the time being, their vehicle needs won’t go away. Automakers and dealers can use this extended period of consideration to create a deeper relationship with Black consumers to be part of the consideration set when they return to car-buying mode.
Key issues covered in this Report
The impact of COVID-19 on Black consumers’ automotive purchasing process
How Black consumers will approach automotive post-COVID-19 slowdown
What automakers can do to cultivate loyalty while purchasing is delayed
Which segments of Black consumers present the most opportunity
This Report was written in late March 2020, and updated on April 30, 2020 with the COVID-19 implications.
Scope
This Report explores what factors drive Blacks to purchase a specific car or from a specific automaker over others, as well as their attitudes, habits, and preferences surrounding the automotive industry. The Report also includes an analysis of Mintel Trend Drivers influencing Black consumers’ 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; Hispanics’ Loyalty in Automotive – US, April 2020, Black Consumers and the Car Purchasing Process – US, July 2018 as well as other Reports from Mintel’s Automotive and Multicultural libraries.
