McKinsey research shows that Black Americans will spend more on cars (including electric) in the coming years, projected at $190 billion by 2030. Car companies could foster equitable experiences for Black consumers by looking at their different needs and preferences. For example, our research shows that Black consumers tend to value recommendations when making decisions about car purchases more than their counterparts do.
To read the article, see “Rules of the road: Equitably serving Black automotive consumers,” August 3, 2022.