Capgemini Research Institute examined how can automotive organizations re-engage consumers and reignite demand during COVID-19. The research note focused key issues that will shape the future of the automotive industry. The note furthermore, showcases actions and examples that organizations can emulate to boost resilience and build recovery plans for automotive industry.
The research note surveyed 11,000 consumers from 11 countries representing 62% of global annual vehicle sales and found that health and safety concerns will continue to shape consumer behavior even after this crisis subsides
After China (61 percent), India stood second with 57 percent of consumer respondents considering purchasing a car in 2020. The global response was 35 percent according to the Capgemini Research Institute report.
It has been observed that 44 percent of the potential buyers are below the age group of 35 years. In this, India and China together constitute 36% of the under-35 potential buyers’ group
Furthermore, In under-35 potential buyers’ group category, India (58 percent) ranked second highest after China (65 percent) in considering owning a car. Globally, it was observed at 45 percent.
The findings unveil that (75%) of the global consumers who intend to make a purchase in 2020 said that it is because of ownership that gives them a greater control of hygiene.
Additionally, It has been observed that Indian consumers want to minimize dealer visits and make more use of online channels. Compared to pre-COVID levels, consumers have made a significant shift to digital modes of interaction. The study highlights 70 percent of Indian consumers respondents would prefer to avoid dealership visits to compare ﬁnancing and deals. The Global preference stood at 46 percent.