Toyota RAV-4 Named ‘Best Majority Vehicle of the Future Overall’
MIAMI, Oct. 11, 2022 /PRNewswire/ — The seventh annual Diversity Volume Leadership Awards (DVL) was 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 NAMAD 2022 Annual Conference at the Fontainebleau Miami Beach Hotel. The rewards program celebrates brands that are at the forefront of sales to ethnic consumers.
US Census statistics predict that by the year 2045 ethnic minorities will be the “future majority”.
“The reality of ‘future coming of age’ was echoed throughout this year’s awards ceremony and highlighted the far-reaching impact ethnic car buyers have on the economy, and attracted attention. attention to the lack of diversity that persists 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 at the forefront of sales to ethnic consumers, while addressing and educating the industry on the need for a group of dealerships that reflects the increasingly diverse population of the United States.
Winners of the prestigious DVL Awards have demonstrated the highest new vehicle registrations among ethnic consumers. This year’s pricing was based on an analysis of S&P Global Mobility data representing the 2022 model year.
“The original purpose of the DVL Awards was to raise awareness in the US auto industry of the best 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 are honored to recognize these premium models and their respective manufacturers to support their efforts to reach increasingly diverse consumer groups.”
This year, NAMAD and S&P Global Mobility presented Toyota Motor North America’s RAV4 with the DVL “Top Overall Future Majority Vehicle” award, one of eleven awards given to Toyota/Lexus during the program. Top Overall Ethnic Vehicle is the most sought-after DVL Awards accolade for automotive brands dedicated to driving sales to Asian, Native American, Hispanic, and African American car buyers.
Here is the full list of manufacturers who won this year’s DVL award:
Subcompact: Nissan Versa
Traditional compact: Toyota Corolla
Intermediate: Toyota Camry
Traditional full-size: Dodge Charger
Subcompact Utility and Utility Plus: Honda HR-V
SUVs and compact SUVs: Toyota RAV4
SUVs and Mid-Size SUVs Lower to Upper: Toyota Highlander
Sport and Intermediate Sport: Dodge Challenger
Midsize Van: Toyota Sienna
From compact to one-tonne van: Mercedes-Benz Sprinter
Compact to Midsize Pickup: Toyota Tacoma
Three-Quarter to One-Ton Pickup: RAM 2500/3500
Half-Ton Pickup: Chevrolet Silverado
Full-Size SUV: Chevrolet Tahoe
Luxury Subcompact: Lexus UX
Luxury compact: BMW 330
Mid-Size Luxury: Lexus ES
Full-size luxury: Mercedes-Benz S-Class
Exotic luxury, full-size prestige and sport: Chevrolet Corvette
Luxury Subcompact SUV: Audi Q3
Luxury Compact CUV: BMW X3
Luxury Midsize SUV: Lexus RX
Luxury Midsize SUV: Mercedes-Benz GLE
Luxury full-size SUV: BMW X7
Best Majority Future Luxury Vehicle: Lexus RX
Best future majority vehicle overall: Toyota RAV4
The cumulative list of award-winning manufacturers is as follows:
- Toyota/Lexus – Eleven (11) DVL awards
- Stellantis (Dodge/RAM) – Three (3) DVL Rewards
- Mercedes-Benz – Three (3) DVL Awards
- General Motors (Chevrolet) – Three (3) DVL Awards
- BMW – Three (3) DVL Awards
- Nissan – One (1) DVL Prize
- Honda – One (1) DVL Prize
- Audi – One (1) DVL Prize
It is important to note that several nominees who did not receive awards were still extremely competitive candidates. Companies that did not receive an award now have the insight and motivation to develop an improved strategy to achieve Future Majority for 2023 and beyond.
About the National Association of Minority Automobile Dealers
The goal of the National Association of Minority Automobile Dealers (NAMAD) is to pursue the meaningful presence and participation of minority businesses and diverse employees in all aspects of the automotive economic sector, including:
- Increase the number of minority-owned dealerships in communities across America
- Promoting workplace and supplier diversity in the automotive manufacturing environment
- Supporting Minority Engagement in the Automotive Retail 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 US automotive industry.
NAMAD is a 501(c)(3) tax-exempt nonprofit organization headquartered in the Washington, DC area. For more information on the National Association of Minority Automobile Dealers, visit: www.namad.org
About S&P Global Mobility
At S&P Global Mobility, we provide invaluable insights from unparalleled automotive data, enabling our customers to anticipate change and make decisions with conviction. Our expertise helps them optimize their business, reach the right consumers and shape the future of mobility. We open the door to automotive innovation, revealing the buying habits 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 leading provider of credit ratings, benchmarks, analytics and workflow solutions for the global capital, commodity and automotive markets. With each 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)