Albuquerque, NM, Oct. 28, 2019 (GLOBE NEWSWIRE) -- A non-profit organization dedicated to leveling the playing field for Hispanic car buyers – the National Hispanic Automobile Alliance (NHAA) – launched at the United States Hispanic Chamber of Commerce (USHCC) National Convention in Albuquerque earlier this month. NHAA Board Member Rudy Beserra and Vensure HR sponsored a reception honoring the organization as a prelude to the USHCC Gala.
Ramiro Cavazos, President and CEO of the USHCC, introduced the organization, saying, “It feels appropriate that this important organization is being launched in New Mexico forty years after the USHCC was formed in Santa Fe. We look forward to working together with the NHAA on behalf of America’s 4.37 million Hispanic-owned businesses.” The organization will provide training, tools and Spanish language materials to consumers, dealers, manufacturers, and suppliers to make the process of buying a car easier and more transparent for Hispanic consumers who often pay more and get less when they buy a car.
The new organization is backed by a broad range of corporate sponsors, including automobile dealers and manufacturers, banks, insurance and finance companies, all of whom recognize the opportunity and obligation to better serve Hispanic consumers. “To level the playing field, we need to put the consumer in the center of the equation, teaching dealers, service providers and manufacturers to treat them with the respect, integrity and equality they deserve,” said Jason Ybarra, CEO of TexCap Financial, LLC, Founding Sponsor and a member of the NHAA Board of Directors.
The country’s 60 million Hispanic consumers with an average age of 27 make up the fastest growing segment in the automotive market, accounting for 11 percent of overall vehicle sales and spending power of $44 billion on new and used vehicles each year. Despite their buying power, Hispanic consumers are at a fundamental disadvantage when it comes to accessing competitively priced financing and aftermarket products and services. They also frequently experience cultural and language barriers during the buying or selling process. The excess automobile costs to Hispanic consumers run into the billions of dollars annually.
“Given the size, purchasing power and demographic trends of the Hispanic community, the fact that these disparities exist is surprising,” said Marc Powell, NHAA CEO. “What is even more surprising is that no one has addressed them head on. Access to safe and reliable transportation is a matter of social justice, and our mission is to create a coalition of industry partners focused on addressing the unlevel playing field facing the Hispanic community.” Beserra mentioned the enormous potential to even the gap that Hispanic auto dealers and consumers have to endure. In leveling the playing field, Beserra said “the era of Hispanic business is upon us. We are no longer the sleeping giant.”
Headquartered in Albuquerque, NM, due to the city’s heritage as a national center of Hispanic business and culture, the NHAA enjoys significant New Mexico partnerships. Ernie C’ de Baca, CEO of the Albuquerque Hispano Chamber of Commerce said, “New Mexico is the leading state for Hispanic organizations that make a difference. The National Hispanic Auto Alliance, like the United States Hispanic Chamber of Commerce, which was formed in our state forty years ago, will bring equality and diversity that will benefit the industry and Hispanic consumers. We are proud to be among the Founding Partners of the NHAA.”
As the organization ramps up, the initial initiatives include:
- Creating comprehensive marketing and education programs for Hispanic car buyers to help them manage the purchase process more effectively
- Leveraging the educated and rapidly growing Hispanic consumer base to fundamentally change the dynamic between them and dealers of all kinds
- Organizing Hispanic independent and franchise dealers into a powerful alliance committed to helping the Hispanic community, influencing policy and facilitating national vendor/OEM alliances
- Developing bilingual training and tools to help smaller Hispanic dealers increase the productivity of their organizations
- Providing comprehensive training to larger non-Hispanic franchise dealers to help them engage Hispanic consumers more effectively
- Developing effective advocacy programs to affect favorable changes in the treatment of Hispanic consumers and dealers among vendors and regulatory bodies.
For more information, go to nationalhaa.com