Cultura President and CEO Juan Faura says Chicago's Hispanic population mirrors country as a whole

Even more than other top Hispanic markets like New York City, LA, Miami, or Houston

Or quickly growing secondary markets like Atlanta or NC

Faura reports that Cultura survey found 64% of Hispanic population prefers buying products in Spanish

He also points out "cars are near and dear to Hispanics"

Faura recently shared insights at NAFA's 10th annual Non-Prime Auto Lending Conference

US Hispanic population currently estimated at 41M

Breakdown: 65% Mexican, 15% Puerto Rican/Dominican, 15% Central American, 5% South American or other

60% of population estimated to speak primarily Spanish, w/ remaining 40% either English-dominant or bilingual

"Hispanic Mercedes customers are probably more comfortable in English, while Hispanic Chevy customers are more comfortable in Spanish. While it would be nice to have one model for all Hispanic customers, that's not the case. There are many nuances to the market so there's no one formula that allow you to sell detergent and Mercedes." -- Juan Faura, President and CEO, Cultura

"Hispanic consumers are good payers. Lenders need to make them aware of what they, as lenders, have to offer the Hispanic population. Also, the Hispanic market is catching up in terms of use of the Internet." -- Faura