Did you know that climate change is significantly more likely to be top-of-mind among multicultural consumers as the biggest issue of our generation? But according to the 2023 Alternative Fuel Automotive Industry Landscape Report, we are starting to see signs of plateau from multicultural adults and their interest in purchasing alternative auto fuels.
Conducted by My Code Intelligence Center, research was conducted to reveal the insights and behaviors of diverse auto consumers in the U.S., providing marketers in the automotive industry with a series of key points and data to help connect with these audiences and authentically represent them in advertising.
DRIVING TOWARD A GREENER FUTURE
More than half of multicultural consumers agree that brands must play a prominent role in strategic response to climate change, yet less than half agree that auto brands are committed to responding to climate change.
The automotive industry is pivoting toward the use of alternative fuel sources and electric vehicles including hybrid, plug-in hybrid, and a particular interest rising in electric vehicles. While 9 in 10 multicultural adults feel that there are benefits to owning an electric vehicle, the same number of people feel that there are drawbacks to EV ownership.
About 60% of multicultural adults are planning to make a vehicle purchase in the next two years, but interest in alternative fuel vehicle purchases has plateaued, and 16% of multicultural consumers don’t feel the need to make a switch. In order to change that, brands must develop tailored content and messaging strategies to provide reassurance for diverse consumers about electric vehicle purchases, without a one-size-fits all messaging approach.
CONNECTING FURTHER THROUGH ADVERTISING
While the majority of U.S. adults consistently believe that climate change is a significant issue, there is still work to be done by brands in the automotive industry to convince consumers to change their purchasing behaviors. In order to do this, creating connection and representing diverse consumers in authentic ways is key:
- Multicultural car shoppers are significantly less likely to feel that auto brands and companies understand them than non-multicultural shoppers.
- 72% of multicultural vehicle shoppers continue to want to see more auto advertising made with them in mind.
- 60% say they are more likely to consider auto brands when they feel understood and represented.
A TURN IN THE RIGHT DIRECTION
Multicultural audiences are an increasingly influential source of strength and opportunity for the automotive industry, and auto brands must convert these audiences to a new mindset for the industry by making them feel understood and represented.
Download the full 2023 Alternative Auto Fuel Report to equip your team with key data points and gain a core understanding of how to effectively generate programs, strategies, and campaigns that are more likely to have an impact on multicultural auto consumers.