These increases in Hispanic auto sales will be driven, in part, by incentives, price, need and stronger job markets. In a July 2013 survey by CNW, the top three reasons why US Hispanic shoppers decided to shop for a new vehicle were compelling incentives, the need for a new vehicle and low monthly payments. For most answers, Hispanics mirrored the overall market. However, while 65.4% of Hispanics cited “needed a new vehicle,” only 54.1% of all new-vehicle buyers did so. Further down the list, reasons such as a new job and higher pay also overindexed among Hispanics compared with the overall market—25.5% to 19.1%, respectively. Read the rest at eMarketer.
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