Automotive Industry: Consumer Trends in 2020

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Global Consumer Trends for Automotive Industry in 2020

Divergent Insights is quite a recognized name in the Automotive Industry owing to the quality of research insights provided to all our clients across the globe. Our numerous case studies for global automotive brands are enough to showcase our expertise. We have already entered 2020 and we are done with our homework to unlock various secrets of consumer trends for automotive industry. We are able to forecast the trends owing to our expertise in research, survey, and industry experience. 

2020 is going to be a big year for the Automotive Industry globally. Our market research and social listening team spent a significant time to study and extract the exact report on Consumer trends for automotive Industry in 2020. 

We feel that it’s important to ask a few questions before you move ahead, like:

Is a Consumer really keen to accept disruption in Automotive Industry?

Technology is changing rapidly but acceptance from customer is also important. Our experts tried studying the Consumer trends for Automotive Industry to gauge the fact whether larger impact of technology will be easily accepted and adapted to by the consumers. There are already a lot of innovations in terms of Electric Vehicles (EV), Connected Vehicles, Pool / Sharing vehicles, etc. Automotive brands globally are investing a lot to bring the much needed disruption in the industry. The future looks very different for the industry. Let’s have a look: 

How the consumers are reacting on Electric Vehicles (EV)?

Growing! Yes the demand is growing for Electric Vehicle (EV) in United States of America and India too. People are expecting alternative engines in the vehicles in future and so it is in high demand.

Automotive Industry Trends- Divergent Insights

Image Courtesy:Deloitte

Consumer Preference is changing across the globe towards the Electric vehicles (EV) due to the advantage of lower emissions and reduced operating costs.

Let us understand Consumer trends for Automotive Industry in the year 2020
QUALITY

Quality is the most important aspect for a consumer while buying a vehicle. Quality has different meanings for different people across the globe in automotive markets. It is further essential for global automotive brands to further investigate their target audience and understand other important aspects like functionality, features, reliability, look and feel, security, etc. Deeper market research and proper online surveys can help to a large extent. Respondents of a survey from different countries will have different thought processes to respond to any survey, so you need to carefully choose the target audience. 

SUSTAINABILITY & RENEWABLES

Consumers across the globe have different expectations when it comes to deciding on vehicle sustainability and demand for renewables. “Renewable energy” was the demand globally when asked about the transformation consumer wished to see in the automotive industry. It is contradiction in itself as many of us think that sustainability is an important factor while choosing the brands. This is possibly true due to the fact that benefit and cost analysis may put the consumer to the back foot while deciding the next automotive brand. 

CUSTOMER SERVICE

Outstanding customer service is the key to remain in any industry. For consumers in the Automotive Industry, this factor becomes essential while considering the decision of purchasing the next car. While our team performs Social Listening to understand the reputation of a brand online in terms of the most negative factors like unhappiness of the consumer and complaints for poor service, breakdowns, warranties, dealers, etc. So, obviously the consumers are expecting better customer services from the automotive brands in the future. 

DRIVERLESS CARS

While most of us love to drive cars but that doesn’t stop us from exploring technological advancements like driverless car. Why not! It can be an experience in 2020. You will also be surprised to know that around 10% of the global consumers are expecting this transformation in the industry in 2020. It is also said to be the most highly rated demand by global consumers on Social media.  USA ranked on top in demanding while Spain was the least interested country to go for this option of driverless car technology.

Top brands in Auto Industry

Automotive Industry Trends- Divergent Insights

Source: Brandwatch

While conducting a careful Market Research and Online Survey of the Automotive Industry, we will be able to gauge the expectation and trends of consumer for their next vehicles in 2020. 

One of the leading brands on Social Media was TESLA in terms of visibility across the globe. This shows that consumers are keener towards accepting the sustainability factor over the affordability. 

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Consumer Intelligence, market Research, Online Survey