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Customer LoginsNew York DMA - diverse automotive market summary
To help automotive customers gain insight into the impact diverse market customers (African American, Asian, Hispanic) are having on the U.S. light vehicle industry, this is the second installment in a series of blogs focused on the Top 10 U.S. markets based on volume year-to-date (YTD) through June 2011.
The focus of this blog is the New York market, also known as "The Big Apple," "The City that Never Sleeps" or simply, "NY." The area could also be referred to as "European Luxury Central" since it is the U.S. home to five of the most common European automotive brands including BMW, Ferrari, Maserati, Mercedes and MINI.
New York is the No. 1 market in the country based on new light vehicle sales YTD. The overall industry is up 17.5% comparing 2011 June YTD vs. 2010 YTD registrations. During the same period, NY's gain is approximately 10 percentage points below the national average at 7.9%.
NY's share of national new vehicle sales is down .75 percentage points at 8.4%. Ethnic consumers represent 23% of new vehicle sales in NY. Adjacent is a pie chart which depicts the current share of new vehicle sales by ethnic group in NY.
NY's Top 10 brand list is both diverse and balanced, and includes Asian brands (40%), European brands (30%) and Domestic brands (30%) as shown on the adjacent table.
From a brand perspective, Honda, Toyota and Nissan lead the way with one of three new vehicles originating from these brands. Locally-based luxury European OEMs, Mercedes and BMW both made the Top 10 list. Three to watch are Jeep (+66%), Hyundai and Ford with year-over-year volume increases in excess of 30%.
So who is "King of the Empire State" streets? See the Top 5 model list based on volume purchased by each diverse market listed (below).
The "Ruler of the Road" in the New York DMA is the Honda Accord. Why? Because the Accord was rated No.1 by all diverse communities, the general market and the New York DMA as a whole. In addition to the Accord, the Honda brand placed two other highly rated models in the Top 5. If anyone has any thoughts on what the connection is between Honda and New York area consumers, please respond to the blog. Congratulations to Honda for dominating the Big Apple list of Top 5 models.
This is the second installment of the diverse automotive market summary series with the Los Angeles DMA on deck. I look forward to hearing your thoughts as I work to increase the automotive market knowledge of the auto public at large.
Posted by Marc Bland, Product Strategist & Multicultural Marketing Lead, Polk (08.25.2011)