In the current landscape, macro-influences continue to reshape diverse and multicultural vehicle shopping behaviors and attitudes. Our data notably reveal that in-market status among diverse and multicultural segments is stable while there is a significant decline among in-market non-multicultural adults compared to 2023. In other words, auto brands seeking to outperform growth projections need to develop tailored strategies to prioritize protecting and growing market share among AANHPI, Black, Hispanic, and openly LGBTQIA+ vehicle shoppers in 2024.

The insights in this report focus on helping auto industry brands understand how to adapt and deepen diverse and multicultural customer relationships to bolster short & long-term business goals.

• Increased Hispanic interest: 54% increase since 2023 in Hispanic adults who are in-market to buy a car within the next 6 months.
• The time is now. 25% increase since 2023 in multicultural adults who agree that now is a good time to buy
• Most likely to be “in the know” Openly LGBTQIA+ adults are most likely to keep up with automotive news and trends, with 68% consuming industry news at least once per month. Additionally, multicultural adults outpace non-Multicultural adults in keeping up with auto news and trends.
• Sedans steal the spotlight. This year, Sedans are the top vehicle type being considered by Multicultural adults, surpassing SUVs and achieving a 30% increase in interest vs. 2023.
• Multicultural Adults, specifically Multicultural Women are more likely to be considering vehicles from brands other than the brand they currently own. With 30% only considering vehicles from a different brand.

Intelligence Center from My Code™ has generated this report to provide an updated look at how to understand and successfully address diverse and multicultural vehicle intenders as they respond and adapt to evolving market conditions impacting their purchase journeys. Our hope with this report is to not only guide our partners to greater success in diverse and multicultural marketing, but to also help them play a meaningful role in enriching the consumer landscape.

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