AUTOMOTIVE CUSTOMER STUDY 2023: BRAND NOTORIETY BIAS COLLAPSES, NEARLY 50% OF POTENTIAL CAR CUSTOMERS LOOK TO NEW INDUSTRY PLAYERS, 89% IF GEN Z IS CONSIDERED

Sustainability, personalized sales experiences, vehicle ownership, and alternative forms of mobility take center stage in Quintegia’s study.

From the Automotive Customer Study 2023, Quintegia’s research on automotive consumer trends and attitudes, a rather significant finding about the future of the automotive industry has emerged: nearly 50% of potential customers show interest in new industry brands, mostly Asian brands, and when considering the Generation Z, the percentage rises to 89%.

The Observatory on consumer behaviors and expectations has focused on various key points in the industry that become real tools for reflecting on the current market and strategies to face the future. The analysis considered 5,478 new car buyers, of which 41% made a purchase in the last 2 years, with over 100 questions.

ONLINE PURCHASE

The internet has not yet become a preferred purchasing channel in common practice. However, the data highlight a fairly wide potential that is expected to grow.

The 35% of respondents are willing to buy a vehicle through an online platform, with 15% of dealers claiming to have implemented e-commerce with varying degrees of completeness (ranging from allowing only online reservations to facilitating the entire purchasing process).

In Italy, regarding purchase options, ownership continues to be predominant, but there is a glimmer of hope with 20% of the sample stating that they are “very/quite” willing to consider a “all-inclusive” subscription (including tax, insurance, and maintenance).

It is estimated, in agreement with the dealers’ perspective, that by 2026 the percentage of “possibilists” will rise to 30%, but in the future, communication tools capable of explaining and promoting the advantages of such a choice will be indispensable.

SUSTAINABILITY AND ELECTRIFICATION

Italians have a responsible attitude in terms of environmental awareness: 52% of electric car owners claim that the goal of reducing environmental impact has had a “significant” influence on their purchasing decision, which increases to 91% if the response is “somewhat”. This means that sustainability has become a tangible driver within the automotive industry.

When asked, “Would you consider purchasing a fully electric car?” 43% responded “no,” 39% said “I wouldn’t rule it out,” and 18% said “yes.” This last figure, compared to the current market share of Battery Electric Vehicles (BEVs) (which is 3.7% according to UNRAE), is significantly higher and demonstrates consumer openness to this new form of propulsion.

SHOPPING EXPERIENCE

While the brand still plays a key role in the dealership, the real challenge in the automotive retail industry is personalizing the service: the retail experience represents a turning point due to the presence of an increasingly diverse audience, which demands dedicated and tailored approaches from dealership staff. The dealership becomes a physical space where customers can experience, discover, and learn about the brand’s values.

In fact, 65% of interviewed dealers claim to be implementing processes to collect targeted data for building a more customized, high-quality, and long-lasting customer relationship.

HOW THE WAY WE MOVE IS CHANGING

Multimodal mobility describes how consumers approach transportation in our country, considering various mobility solutions in the next 3 years. Although the car remains the undisputed protagonist in this scenario, other possibilities and options come into play, from public transportation to ride-sharing, including the use of electric scooters, electric bikes, on-demand mobility services, short and long-term car/motorcycle rentals. In this context, 70% of customers interested in integrated mobility services express a high regard for dealerships as valuable partners to turn to for these options.

The study’s summary can be downloaded here: https://www.quintegia.it/automotive-customer-study/