What if you could do something today that would set your dealership up for success over the next decade plus? Would you take action, or let the opportunity pass you by?
As you know, the competition in the auto dealer space can be ruthless. But, there’s a NEW emerging market that’s relatively untapped. And your dealership could be one of the first in your local area to make the jump. This market is not only massive, but it’s only going to grow into the future.
The emerging Hispanic market.
WHY TAPPING INTO THE GROWING HISPANIC MARKET IS IMPORTANT?
Speaking and selling to the Hispanic market is much different. You need to be aware of cultural cues while addressing any language barriers. The Hispanic market is not only huge, but it might just be the future of the auto buying space.
Check out some of these statistics:
The US Hispanic Market is…
• The most digitally engaged section of the US population
• New vehicle sales in the US every year reach about $1.9 million
• The average population age is younger (so there’s a greater potential for a lifelong customer)
• New vehicle buyers have the buying potential of at least 3 more vehicles in their lifetime
• New vehicle purchases have more than doubled since 2010
• Hispanic’s research cars online more frequently than nonHispanics
And that’s just buying habits. The Hispanic market is also heavily involved in social media and mobile. Making it an incredible market to start engaging with online.
Take a look at this:
• Smartphones have penetrated nearly 90% of the Hispanic market
• Hispanic users shared content 5x more frequently than non-Hispanics
• What they share is 35% more likely to be clicked on by others
What you’ve got is a segment of the market that’s primed to buy, and loves the combination of social media and mobile.
But, what does this mean for your dealership?