Hitting the brakes

Our 3rd annual Speedometer report follows up our research in 2019 and 2021.

We have drawn on a survey of over 9000 consumers across 8 countries (USA, Germany, France, UK, Netherlands, Italy, China, Australia) to understand the underlying, affective disruptors in automotive sector trends.

As the cost-of-living crisis continues, we see that stretched finances mean that consumers are considering delaying new car purchases and putting the monthly cost of motoring first when it comes to decisions about their car. Consumer attitudes are polarising when it comes to the industry’s three biggest disruptors: online purchasing, electric car purchase, and subscription. But that said, we’ve come a long way since COVID-19 and in this report, we look at how has that acted as a catalyst to consumer behaviour and what does the journey look like for buying a car in 2022’s ‘new normal’?

The Speedometer covers five core questions for the consumer and what that means for the players:

1. Would drivers consider an alternative to exclusive car ownership?
2. What do drivers want to buy – EV or traditional cars?
3. Where do consumers want to find and buy a car?
4. How do they want to pay?
5. How do drivers want to repair and maintain their vehicle?

We go into detail on these trends and the winning strategies for businesses to succeed in the changing environment. If you would like to discuss any of the themes or our findings we’d be delighted to talk.