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Women auto sales on rise - who is leading growth?
In my prior blog titled, "Women Driving Increased Auto Sales," I shined a much deserved spotlight on this growing group of auto consumers. In this blog, my goal is to highlight which group of women is driving the growth.
Looking at the five-year trend chart below, African American women have led the way since 2006. The women of the African American community are nearly on par with their male counterparts, contributing an average of 47.5% of their ethnicity's auto purchases.
What's even more "eye popping" was the drastic share increase of auto buys controlled by Asian women since 2008. Between 2006 and 2010, this group has taken control of more than 14% of the Asian auto buys from their male peers. The recent growth spurt has moved them ahead of African American women with control of 49% of the Asian light vehicle market. Hispanic women come in third gaining four percentage points since 2006 with a current 41.6% share. Whereas, the non-African American, non-Asian, non-Hispanic Women referred to as "other" or "OT" have gained two percentage points during the same period with a current 36.9% share.
I hope this short but powerful information serves notice to all OEMs, dealers, advertisers and agencies that women as a collective group are a force to be recognized when it comes to auto purchases. Special attention should be applied to Asian and African American women as they are nearly on par with their male peers when it comes to auto purchase decisions.
My next blog will look deeper into the Asian community to identify which sub-groups (Chinese, Indian, Japanese, etc.) are leading the drastic growth since 2008. These are my findings and thoughts, I'd love to hear your feedback on this topic.
Posted by Marc Bland, Product Strategist and Multicultural Marketing Lead, Polk (03.28.2011)
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