Toyota keen on not losing its hold of US Hispanic market

Article by Christian A., on July 23, 2014

Toyota Motor Corp. has been dominating the Hispanic market in the United States for 10 straight years, and it has no plans to give up its dominance to its rivals like Nissan Motor Corp. and Ford Motor Co. Bill Fay, group vice president for US sales, remarked at a conference for the National Council of La Raza that Toyota’s advantage against its competitors is that it has been on top for while – which means that the company already some equity with the Hispanic consumers.

Toyota plans to continue its dominance by expanding its marketing and community outreach efforts. He told Bloomberg that Toyota is trying to cover all its bases and reinforce the strength of the product and involvement in the different communities.

According to the Census Bureau, as of July 2011, Hispanics account for around 17 percent of the US population at about 52 million. Government estimates Hispanics to account for around 30 percent of the US population by mid of the century.

Fay disclosed that Hispanic consumers account for 14 percent of Toyota's sales so far in 2014, citing registration from R.L. Polk & Co. He added that Toyota holds a 16-percent share of the Hispanic market.

Alexander Edwards, president of Strategic Vision consumer research firm, just a 1-percent share of the Hispanic market is “critical,” adding that it is an important group.

Toyota, Lexus and Scion vehicles posted a 5.1-percent gain in the US to 1.2 million in the first half of 2014. Fay said Toyota is expecting to sell at least 2.3 million cars and trucks in the US in 2014. [source: Bloomberg]

If you liked the article, share on:

Comments

Recommended

A racing team is claiming that it has managed to break the lap record in its category in the ever-demanding Nurburgring circuit in 2016 while driving a road-going Volvo S60...
by - May 27, 2017
Aside from the officially confirmed BMW 8 Series, the next generation BMW M5 (F90) is getting a lot of attention from the fans, enthusiasts and even potential customers around the...
by - May 27, 2017
Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
The largest gathering of Volkswagen and Audi cars in Europe is underway, and the German premium carmaker is displaying the third model of its G-Tron range at the 2017 Worthersee...
by - May 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries