Toyota RAV-4 Named “Top Overall Future Majority Vehicle”
MIAMI, Oct. 11, 2022 /PRNewswire/ — The Seventh Annual Diversity Volume Leadership Awards (DVL) were presented this morning by the National Association of Minority Automobile Dealers (NAMAD) and S&P Global Mobility (formerly IHS Markit) during the program at the 2022 Annual NAMAD Conference at the Fontainebleau Miami Beach Hotel. The Awards program celebrates brands that are driving sales leadership with ethnic consumers.
U.S. Census statistics predict that by the year 2045, ethnic minorities will be the “Future Majority.”
“The ‘Future Majority’ reality was echoed throughout this year’s Awards ceremony and showcased the tremendous impact ethnic car buyers have on the economy, and brought awareness to the lack of diversity that still remains in the automotive industry,” said NAMAD President Damon Lester.
During the Awards Program and Conference, NAMAD and S&P Global Mobility partnered to celebrate brands that are driving sales leadership with ethnic consumers, while also addressing and educating the industry about the necessity of a dealer body that reflects the United States’ increasingly diverse population.
Winners of the prestigious DVL Awards demonstrated the highest new vehicle registrations with ethnic consumers. This year’s awards were based on an analysis of data from S&P Global Mobility representing the 2022 model year.
“The initial goal of the DVL Awards was to create awareness within the U.S. auto industry of the top vehicles purchased by ethnic consumers,” said Marc Bland, Chief Diversity Officer, S&P Global Mobility. “But now the game has changed, and the ‘Future Majority’ designation is real. We’re honored to recognize these top models and their respective manufacturers in support of their efforts to reach increasingly diverse consumer groups.”
This year, NAMAD and S&P Global Mobility honored Toyota Motor North America’s RAV4 with the “Top Overall Future Majority Vehicle” DVL Award, one of eleven awards presented to Toyota/Lexus during the program. Top Overall Ethnic Vehicle is the most sought-after DVL Awards honor for automotive brands dedicated to driving sales leadership with Asian, Native American, Hispanic and African-American car buyers.
Following is the complete list of this year’s DVL Award-winning manufacturers:
Sub-Compact: Nissan Versa
Traditional Compact: Toyota Corolla
Mid-Size: Toyota Camry
Traditional Full-Size: Dodge Charger
Sub-Compact Utility and Utility Plus: Honda HR-V
Compact CUV and SUV: Toyota RAV4
Lower to Upper Mid-Size CUV and SUV: Toyota Highlander
Sport and Mid-Size Sport: Dodge Challenger
Mid-Size Van: Toyota Sienna
Compact to One-Ton Van: Mercedes-Benz Sprinter
Compact to Mid-Size Pickup: Toyota Tacoma
Three-Quarter to One-Ton Pickup Truck: RAM 2500/3500
Half-Ton Pickup Truck: Chevrolet Silverado
Full-Size SUV: Chevrolet Tahoe
Luxury Sub-Compact: Lexus UX
Luxury Compact: BMW 330
Luxury Mid-Size: Lexus ES
Luxury Full-Size: Mercedes-Benz S-Class
Luxury Exotic, Prestige Full-Size and Sport: Chevrolet Corvette
Luxury Sub-Compact CUV: Audi Q3
Luxury Compact CUV: BMW X3
Luxury Mid-Size CUV: Lexus RX
Luxury Mid-Size SUV: Mercedes-Benz GLE
Luxury Full-Size SUV: BMW X7
Top Overall Future Majority Luxury Vehicle: Lexus RX
Top Overall Future Majority Vehicle: Toyota RAV4
The cumulative list of Award-winning manufacturers is as follows:
- Toyota/Lexus – Eleven (11) DVL Awards
- Stellantis (Dodge/RAM) – Three (3) DVL Awards
- Mercedes-Benz – Three (3) DVL Awards
- General Motors (Chevrolet) – Three (3) DVL Awards
- BMW – Three (3) DVL Awards
- Nissan – One (1) DVL Award
- Honda – One (1) DVL Award
- Audi – One (1) DVL Award
It is important to note that several nominees that did not receive awards were still extremely competitive contenders. Those companies that did not receive an award now have the insight and motivation to develop an improved strategy to reach the Future Majority for 2023 and beyond.
The National Association of Minority Automobile Dealers’ (NAMAD) objective is to pursue the meaningful presence and participation of minority businesses and diverse employees across all aspects of the automotive economic sector, including:
- Increasing the number of minority-owned dealerships in communities across America
- Advocating workplace and supplier diversity in the automotive manufacturing environment
- Supporting minority engagement in the automotive retail sales and service sectors
NAMAD is committed to developing strategic relationships and advocating for the advancement of business policies and practices that ensure diversity and economic parity remain a priority in all aspects of the American automotive industry.
NAMAD is a 501(c)(3) non-profit, tax-exempt organization headquartered in the Washington, D.C. area. For information on National Association of Minority Automobile Dealers visit: www.namad.org
At S&P Global Mobility, we provide invaluable insights derived from unmatched automotive data, enabling our customers to anticipate change and make decisions with conviction. Our expertise helps them to optimize their businesses, reach the right consumers, and shape the future of mobility. We open the door to automotive innovation, revealing the buying patterns of today and helping customers plan for the emerging technologies of tomorrow.
S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/mobility
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SOURCE National Association of Minority Automobile Dealers (NAMAD)
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