Hyundai executive says DEI ‘drives the bottom line’
Hyundai has reaffirmed its commitment to diversity, equity, and inclusion (DEI) initiatives amidst a decline in such practices among other companies. Executive Erik Thomas noted that multicultural customers account for 30% of the company’s car sales, which underscores the importance of their marketing efforts directed at African American and Hispanic communities through partnerships with specific agencies. Despite various corporations, including Target and Walmart, moving away from DEI policies, Hyundai believes these initiatives contribute positively to their sales and overall performance. The automaker stands out as it continues to support DEI, aligning with companies like Costco and Apple that have publicly defended their policies. Hyundai is also the third-largest automaker globally, with meaningful sales numbers reported.
Hyundai executive says DEI ‘drives the bottom line’ as other companies ditch it
Automaker Hyundai renewed its commitment to marketing efforts focused on diversity, equity, and inclusion as similar initiatives have decreased in popularity.
Hyundai confirmed it is keeping its contracts with African American marketing agency Culture Brands, which began in 2021, and Hispanic marketing agency Lopez Negrete Communications, which began in 2022. Hyundai Motor America’s director of experiential and multicultural marketing, Erik Thomas, claimed that multicultural customers make up 30% of car sales but did not share the revenue made.
“In terms of the creative that we’re doing and the work that we’re doing with Culture Brands, it’s born from a recognition that it drives sales, drives the bottom line for the company,” Thomas said.
Thomas’s comments come as Target, Meta, McDonald’s, Walmart, Lowe’s, Toyota, Ford, and others have rolled back their DEI practices. These companies will no longer make hiring and firing decisions based on race or any other identity while phasing out the phrase “DEI.”
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Costco, Apple, and Delta Airlines are among the standout companies that are keeping their respective policies to suit DEI practices. These companies have gone public in defense of DEI.
Hyundai is the third-largest automaker in the world, selling over 4.14 million cars last year.
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