For over a decade, Deloitte has been exploring automotive consumer behaviours and trends impacting a rapidly evolving global mobility ecosystem. The goal of this annual study is to answer important questions that can help companies prioritise and better position their business strategies and investments.
From September through October 2023, we surveyed more than 27,000 consumers in 26 geographies around the world to explore opinions regarding a variety of critical issues impacting the automotive sector, including consumer interest in electric vehicles (EVs), brand perceptions, and connected technology adoption.
The study was fielded using an online panel methodology, where consumers of driving age were invited to complete the questionnaire (translated into local languages) via email.
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From September through October 2023, we surveyed more than 27,000 consumers in 26 geographies around the world to explore opinions regarding a variety of critical issues impacting the automotive sector, including consumer interest in electric vehicles (EVs), brand perceptions, and connected technology adoption.
The study was fielded using an online panel methodology, where consumers of driving age were invited to complete the questionnaire (translated into local languages) via email.
Southeast Asia perspectives
Within the Southeast Asia region, 5,939 survey respondents across the geographies – Indonesia (n= 1,005) Malaysia (n= 957), Philippines (n= 1,000), Singapore (n=1,000), Thailand (n= 1,000), Vietnam (n= 977) – were covered in the study. Overall, our findings have revealed four emerging trends impacting the global mobility ecosystem.
High interest rates and elevated sticker prices may be causing consumer interest in EVs to soften in some markets. Despite original equipment manufacturer (OEM) price cuts and government incentives designed to make them more affordable, a variety of other challenges continue to stand in the way, including availability of charging infrastructure, charging time, range anxiety, and cost.
Product quality tops the list of factors driving the choice of vehicle brand for consumers in most Southeast Asia markets, including Indonesia, Malaysia, Thailand, and Vietnam, while vehicle performance and price are top of mind for consumers in the Philippines and Singapore respectively.
Among those who are interested in connected vehicles, there is a relatively high level of interest in features that provide updates on maintenance, road safety, and traffic congestion. Unlike other markets, the willingness to pay extra for connected technologies remains relatively high across all Southeast Asia markets except in Singapore.
Against the backdrop of uncertain economic conditions causing concern for financial capacity, a significant number of younger consumers in many markets are at least somewhat interested in giving up vehicle ownership altogether in favour of a subscription model, but concerns about vehicle availability, total ownership cost, and the perception of higher monthly fees persist.
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