Top 10 Purchased Automotive Brands by Hispanics in 2024

At Autoproyecto, we sincerely acknowledge the pivotal role of Hispanic buyers in shaping the automotive market. Their influence is profound, representing a significant 26% of all vehicle sales and accounting for 68% of the automotive industry's growth. This demographic, comprising over 19% of the population, wields a formidable $2.1 trillion acquisition power and is responsible for 51% of the population's growth. Their discerning tastes and unwavering brand loyalty provide invaluable insights into market trends.
The 2024 rankings, based on S&P Global Mobility new vehicle registrations from the last 12 months rolling year, reveal how brands market and connect to the ever-growing Hispanic market. Brands that connect to Hispanics in a genuinely multicultural way, meaning they understand and respect the unique cultural aspects of the Hispanic community, are more successful than those that do so in a transcultural way, meaning they transcend cultural boundaries and appeal to a broader audience.

“The industry growth in new vehicle sales is being driven by the Future Majority (combined Hispanic, African American and Asian). Specifically, Hispanics continue to lead the way in new vehicle sales growth. The power of reaching the Hispanic communities (national, regional, grass-roots) is with advertisements focusing solely on Hispanic consumers doing what they naturally do in everyday situations."
Marc Bland, Chief Diversity Officer, S&P Global Mobility - Automotive

A recent Hispanic market sentiment study by We Are All Human with Nielsen revealed a critical insight: less than 5% of brands effectively connect with Hispanic consumers. However, the study also indicated that 83% of Hispanic consumers would be more likely to purchase products from brands that positively affect their lives and communities. Furthermore, 77% emphasized the importance of language, underscoring the need for brands to engage with Hispanic buyers in a culturally relevant manner to foster stronger connections and drive sales.

The most striking development is Kia's meteoric rise. With a staggering 44.5% increase in sales in the last five years, Kia has experienced the most significant surge of any manufacturer. Kia also stands out as the only brand that has consistently ascended the ranks year after year.

“Monitoring the historic growth of Kia's brand and increasing enthusiasm for our vehicles within the vibrant Hispanic market has been our pleasure. We look forward to even more success in the coming years. As the automotive industry moves forward into an "electrifying" future, Kia will continue to innovate and deliver excellence across our award-winning line-up of ICE, HEV and EV vehicles in an effort to support Hispanic buyers across every segment during this historic journey - together."
Russell Wager, Vice President, Marketing, Kia

Similarly, Tesla's climb up the ranks, becoming the leading luxury brand among Hispanics, despite this demographic's initial skepticism about electric vehicles, is a testament to its unique appeal. On the other end of the spectrum, Ram Trucks, a brand that has always been a favorite within this demographic and historically held a constant Top 10 position, is no longer in the Top 10 or, for that matter, Top 15.

2024 Top 10 Most Automotive Purchased Brands by Hispanics

Source: S&P Global Mobility 2024

1. Toyota

Toyota continues to dominate among Hispanic buyers, maintaining the top position thanks to its unparalleled reliability, affordability, and diverse vehicle lineup that meets various needs and preferences. Toyota's commitment to the Hispanic market solidifies itself as a market leader, with 25% of its sales coming from Hispanic buyers. Toyota's sales growth among Hispanics over the past five years has increased by 2%, a large number considering Toyota's sales to Hispanics almost double Honda's sales.

2. Honda

Honda is in solid second place, which it has held for quite a while. It is celebrated for its reliable, fuel-efficient, and well-designed vehicles. Honda's sales to Hispanics account for 22.7% of its total sales in 2024, but they have declined by -2% from five years ago.

3. Chevrolet

Chevrolet, securing the third spot, remains a strong presence with its diverse range of vehicles, from reliable sedans to powerful trucks. Notably, the Chevrolet Silverado has been the #1 selling truck to Hispanics for the last ten years, underscoring the brand's strong connection with this market segment. Sales to Hispanics account for 13% of its total sales in 2024, losing -3.7% from five years ago.

4. Ford

In fourth position, Hispanics' love for Ford goes back a long way, specifically for the F-150. However, despite climbing from #5, Ford's sales to Hispanics have declined by -6% over the past five years. Hispanics currently represent 13% of Ford's sales.

5. Nissan

With its stylish, fuel-efficient, and technologically advanced vehicles, Nissan is fifth. However, Nissan's position is precarious. Nissan was in fourth place in 2019 but fell to fifth after five years. 23% of Nissan's sales come from Hispanic buyers, yet the company has suffered a -22.76% decrease from five years ago.

6. Kia

Kia's impressive rise to sixth place is a testament to its commitment to modern design, exceptional warranties, and advanced features. If Kia maintains on pace with its rapid growth, we anticipate Kia overtaking Nissan by 2025. This consistent year-over-year progress highlights Kia's growing resonance with the Hispanic community.

7. Hyundai

Hyundai, now in seventh place, remains a popular choice with its stylish designs and comprehensive warranties. Over the past five years, Hyundai's sales to Hispanics have increased by an astounding 33%, the second-highest growth by any brand. Hispanics currently account for 17.3% of Hyundai's sales.

8. Tesla

Tesla's rise to eighth place is significant, marking it as the only luxury vehicle manufacturer on the top ten list. Despite Hispanics purchasing fewer electric vehicles than the general population by 2%, Tesla's appeal lies in its cutting-edge technology, impressive performance, and commitment to sustainability.

9. Jeep

Jeep, in ninth position, captures the interest of Hispanic buyers with its rugged SUVs and off-road capabilities. However, Jeep has the most significant loss of the group, with its sales declining by -34.22% over the past five years.

10. GMC

GMC rounds out the top ten with its robust lineup of trucks and SUVs. Known for power, durability, and advanced features, GMC's reputation for quality ensures its place among the favorites. Hispanics represent 15.7% of GMC sales, a 4.7% increase from five years ago.

Notably absent from the top ranks is Ram Trucks. Once a favorite among Hispanic buyers, Ram was ranked ninth in 2019 with a 15% year-over-year sales increase. Ram is not even among the top 15 vehicles sold to Hispanics. This drastic decline, along with Jeep, raises questions about what is happening at Stellantis. Autoproyecto reached out for comment but Stellantis declined to comment.

The 2024 rankings highlight the dynamic impact of Hispanic buyers on the automotive market, driven by their significant purchasing power and youthful demographic. Understanding the preferences and behaviors of Hispanic consumers and making a genuine connection with them and the community will foster an everlasting. As we look ahead, it is clear that brands that embrace cultural relevance and promote authentic connections with Hispanic buyers will be the ones to watch in the competitive automotive landscape.