US Black Consumers and the Car Purchasing Process market report
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Providing the most comprehensive and up-to-date information and analysis of the Black Consumers and the Car Purchasing market, and the behaviours, preferences and habits of the consumer.
Mintel has the answers you’re looking for
What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
- Most Black car shoppers conduct research, but not all feel prepared at the negotiating table
- Black consumers buy cars out of want, rather than need
- Money saved over a car’s lifetime is paramount for Black car shoppers
- lack consumers have a set budget, some to secure financing prior to seller visit
Key consumer questions covered
- Black Consumer Car Purchasing Segments
- Number of Vehicles in Black Households
- Car Purchase Timeframe
- Type of Purchase for Next Vehicle
- Pre-purchase Decisions among Black Consumers
- Reasons for Car Purchase
- Pre-purchase Online Research Sources
- Car Research Behavior
- Vehicle Attributes for Purchase Consideration
- Attitudes toward Car Purchasing
What you need to know
Buying a car can be a stressful process for Black consumers, because they are singularly focused on ensuring that they negotiate the best deal that maximizes car value within their budget. Gathering as much information as possible on car attributes, performance, and most importantly price helps to alleviate concerns for most shoppers in the market. Car manufacturers and dealers who exhibit transparency in their offerings will win these consumers’ business.
Mintel defines car purchasing as the act or the intended act of buying a new, used, or certified pre-owned (CPO) vehicle. Types of vehicles referenced in this Report include the following: all cars, station wagons, sedans, pickup trucks, vans, minivans, CUVs (crossover utility vehicles), and SUVs (sport utility vehicles).
This Report builds on the analysis presented in Mintel’s Car Purchasing Process – US, May 2017, Black Consumers’ Perception of Auto Brands – US, March 2017, and Black Consumers and the Car Purchasing Process – June 2016. For additional reference, please read Mintel’s Car Purchasing Process – July 2018 and Hispanics and the Car Purchasing Process – July 2018, as well as all the titles in Mintel’s Automotive Library
Expert analysis from a specialist in the field
Written by Fiona O'Donnell, a leading analyst in the Multicultural, Lifestyles, Travel & Leisure sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Black consumers can be influenced by strategic marketing messages during the research and consideration phase of the car buying process as they seek information from multiple sources in their determination of type, make, and model to purchase. Demographics play a role in which resources are most likely to help guide them toward their choice.
Director - Multicultural, Lifestyles, Travel & Leisure
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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