The 2002 Hispanic Business Buyer Satisfaction Index, featured in the November issue of Hispanic Business, includes luxury sedans, sport utility vehicles, pickup trucks, sports cars, and retro coupes.
According to a press release, when CEOs of the Hispanic Business 500 companies were asked to rate cars they currently own, respondents rated each car on a 1–10 scale in 10 different satisfaction categories. Despite CEOs' differing preferences in their vehicle selections, they showed consistency in the qualities they value. Responsive handling ranked as the first priority, followed by "fun to drive," dealer service, and styling.
The front-runner on this year's Buyer Satisfaction Index is the Nissan Frontier, a compact crew-cab pickup truck. The other top car is the Jaguar XKR.
Rounding out the top-rated cars were (in order): Lexus LS 430, Chevrolet Suburban, Toyota Sequoia, Lexus RX300, Ford Thunderbird, Mercedes-Benz S430, Volvo S80, Cadillac Escalade, Lincoln Navigator, and Mercedes-Benz CLK430.
The CEO Buyer Satisfaction Index report also features reviews of all of the top cars. Rounding out the special automotive report is a look at the phenomenal growth and expanded buying power of Hispanic auto consumers. The Labor Department's Consumer Expenditures Survey finds that Hispanic spending on new cars and trucks surged from $868 million to $1.35 billion during the five-year period from 1994 to 1999. Over the same time frame, spending on used vehicles increased more than 50 percent, to nearly $2 billion. Add in other auto-related spending on such items as financing, fuel, maintenance, and insurance, and the Hispanic market's total vehicle expenditures came to a hefty $8.3 billion at the beginning of the new millennium.
"That $8.3 billion is certainly a figure the auto industry can no longer ignore," says Hispanic Business editor and publisher Jesús Chavarría. "As the Hispanic population becomes increasing affluent and buying power increases, so does the need for advertisers to establish their brands within this explosive market segment."
The November issue of Hispanic Business also contains a special report on globalization, including the Hispanic Business Top 50 Exporters list. Topping this annual directory of the largest U.S. Hispanic-owned exporting companies is Brightstar Corp., a distributor of wireless communication equipment, with exports going primarily to South America, Mexico, and the Caribbean region. The Miami-based company's export revenues grew 67 percent (from $300 million to $500 million) from 2000 to 2001.
About Hispanic Business Inc.
Founded in 1979, Hispanic Business Inc. is a Hispanic publishing, information services, recruitment services, and events company. Hispanic Business magazine/HispanicBusiness.com is the company's flagship publication. Other products and educational services include SúperOnda magazine/SuperOnda.com, a Hispanic youth publication and Web site; HireDiversity.com e-recruitment Web site and career expos; the annual Hispanic Business Magazine EOY (Entrepreneur of the Year) Awards Gala; and the Board of Economists (BOE) U.S. Hispanic Economic Summit.