2023 Global Automotive Consumer Study
Tracking consumer trends in the automotive industry
What consumer trends and disruptive technologies will have the most impact on the automotive industry in the coming year? For more than a decade, Deloitte has published data and insights in our Global Automotive Consumer Study that can help automotive companies overcome challenges to thrive. Explore key findings on the evolution of mobility, smart cities, connectivity, transportation, and other issues surrounding the movement of people and goods.
A global shift to electric cars revs up the future of mobility
From September through October 2022, we surveyed more than 26,000 consumers in 24 countries to explore opinions regarding a variety of critical issues impacting the automotive sector, including consumer interest in electric vehicle (EV) adoption, brand perception, and deploying advanced technologies. Our 2023 Global Automotive Consumer Study provides important insights that can help companies prioritize and better position their business strategies and investments in the year to come.
In this year’s study, four key trends emerged:
- The shift to EVs is happening, but is it moving fast enough in some markets?
- There’s one unintended benefit of the vehicle inventory crisis
- Dealers engender the most trust among consumers
- Subscriptions to connected vehicle services could be a challenge
For more details on these evolving automotive consumer trends, download the full report.
Unlock value with key car buying trends from this year’s study
The global shift to electrified vehicles is happening at very different speeds depending on the individual market. Interest in hybrid technology also continues to outstrip full battery electric vehicles (BEVs) in most countries except China. Despite government messaging around the need to address climate change, the shift to EVs is primarily based on a strong consumer perception that it will significantly reduce vehicle operating costs.
I’m assuming the image below will be replaced with one that doesn’t show the hovered-over text on India’s 53% ICE results.
Future vehicle intentions
Except for Japan, where vehicle features are the driving force behind choosing a brand, consumers rely on a perception of product quality when making a purchase decision. The current inventory crisis may be training consumers to expect longer wait times for delivery of a new vehicle, potentially opening the door to a more “build-to-order” retail paradigm.
Vehicle brand and service experience
Consumers across markets most trust the dealer where they originally acquired or normally service their vehicle, signaling the important role dealers play in maintaining customer relationships.
Mobility providers looking to offer subscription services for connected vehicle technologies may find it challenging as most surveyed consumers would rather pay for these features either upfront as part of the vehicle purchase price or on a per use basis.