The recent collapse of Tricolor Holdings presents a significant opportunity for auto dealers. Tricolor’s business model was unique in that it specifically targeted the Hispanic and Spanish-speaking community. With the company’s sudden bankruptcy and subsequent liquidation, its customers are left to find alternative options.

The dealers who can effectively market their ability to cater to Hispanics and Spanish speakers will be best positioned to capture this market. In this case, your story and the message you’re sharing with buyers in your market matter much more than factory rebates and in-stock inventory.

The Hispanic population, which includes many first- and second-generation immigrants, is one of the fastest-growing demographics in the United States, representing nearly 20% of the U.S. population, and it has considerable purchasing power. As a group, U.S. Hispanics’ GDP is expected to expand faster than that of Germany, the U.K., France, and Japan over the next two years.

By focusing on this niche, Tricolor had built a loyal following. I worked closely with Tricolor during my time at DealerSocket, and Tricolor became an option for Spanish speakers because no other dealers were openly stating that they could help with better, newer vehicles and potentially similar payment options.

Now, with the company’s demise, these customers will be seeking alternatives that understand their needs and offer a comfortable, trustworthy experience. For almost all franchised dealers, this isn’t about creating a new market, it’s about stepping in to serve an existing one.

To successfully attract and retain these customers, a dealer must go beyond simply having a few Spanish-speaking staff members. It requires a comprehensive approach, with the most critical element being a bilingual sales and service team. It’s not just about translation, it’s about building trust and rapport.

A Spanish-speaking customer should feel welcome and understood from the moment they walk in the door. It also extends to the service department, where clear communication about maintenance, repairs, and billing is essential.

Regardless of Tricolor’s situation, they capitalized on the trust effect within the Spanish-speaking community and sold thousands of cars as a result.

Marketing efforts should be tailored to the Spanish-speaking community by creating ads and content that resonate culturally and effectively with this audience. That means don’t just translate your English ads to Spanish and expect the rocket to launch. These ads often fall flat.

Focusing on familiarity with ITIN financing, or simply letting consumers in your market know you have Spanish-speaking staff on-site, is a much better strategy than blasting OTT ads focused on incentives and rebates. Dealers should consider leveraging platforms popular within the community with Spanish-language content.

If websites are our digital storefront, then our websites should speak Spanish as well as our in-store staff. The majority of products being sold to dealers as Spanish “solutions” are half-baked at best and rarely provide a well-designed, comprehensive experience that has been built for the automotive industry.

In 2025, “catering” to a set of consumers requires more than band-aid solutions that don’t encourage users to find a vehicle best fit for their needs.

The Hispanic community places a high value on family and community. Dealers who succeed will be those who build long-term relationships, rather than focusing solely on one-off transactions. Filing for bankruptcy is more than a business failure; it’s a chance for dealers to earn the loyalty of a growing and valuable customer base that has been left without a dedicated partner in the auto industry.

Dealers who act quickly and with cultural sensitivity will not only grow their businesses but also become vital resources for their communities.

Chance Mayfield is the CEO of Carfluent, an AI-driven Spanish website plugin designed for dealerships seeking to expand their audience.