Understanding Consumer Buying Behavior in a Volatile Market
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Cars Online 09/10
11th Annual Global Automotive Study: Understanding Consumer Buying Behavior in a Volatile Market.
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Capgemini’s 11th annual global automotive study reveals car-purchasing trends, including strong shift toward green vehicles, increasing convergence of buying behaviors in mature and developing markets, and opportunities for recovery.
With vehicle sales suffering in most markets today and automotive companies focused on cost cutting and cash preservation, it’s easy to take your eye off the consumer. But, in a climate characterized by volatility, consumer insight is more important than ever as buying behavior patterns evolve rapidly.
How do car buyers research vehicles? What types of cars are they looking for? What triggers them to buy? Where – and how – do they want to buy? How do they want to communicate with manufacturers and dealers?
Capgemini’s Cars Online research aims to answer these questions and more to provide insight that can help automotive companies respond faster and more effectively to changing consumer needs and demands.
Highlights of the Study
- The vast amount of information available on the Internet is resulting in a shrinking buying cycle. Over two-thirds of respondents begin the research process two to four months in advance of their purchase.
- Less than half of consumers with cars still in-warranty have their vehicles serviced at the purchasing dealership, emphasizing the importance of delivering a strong aftersales and servicing experience.
- Developing markets show early signs of trending toward mature markets, as consumers in the BRIC countries become more familiar with buying cars.
- Online buying continues to gain momentum. Nearly 40% of consumers would like to buy a car over the Internet, and half would purchase parts and accessories online, the main drivers being price discounts and dissatisfaction with the dealer/retailer process.
- Green vehicle ownership continues its upward trend: 41% of respondents own a fuel-efficient or alternative-fuel vehicle, up from 36% the year before, and 30% plan to buy one. Fuel economy and environmental impact are the primary reasons..
