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

Those in the United Kingdom may now order a new version of Skoda’s sports utility vehicle – the new Skoda Kodiaq Sportline. It will be slotted between SE L and...
by - December 10, 2017
As part of its new electrification strategy, German carmaker Volkswagen is working to finalize the production version of the Volkswagen I.D. Crozz SUV concept and introduce the new vehicle to...
by - December 10, 2017
The company founded by Ferdinand Porsche has been in the business of building vehicles -- sports cars, SUVs and race cars – since 1931. The brand has long catered to...
by - December 9, 2017
BMW strongly believes that the future will be all about the electrification, or should we say e-mobility. And this is why as early as now, they already have a vision...
by - December 8, 2017
At this year’s FIA World Touring Car Championship, it was Volvo that stood out and became the victor with an S60 TC1 race car. So to celebrate this victory, the...
by - December 8, 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