Ethnic share in the US light vehicle market reached a record 33% in September 2022. In other words, one of every th… https://t.co/10WcC7jVTj
Understanding the 2020 Vehicle Buyer Journey
As the global automotive industry recovers from the unparalleled COVID-19 disruption, questions remain surrounding consumer expectations, behaviors and optimal retail formats to drive a comeback.
To address this, IHS Markit has conducted a one of a kind, global consumer survey, unique in that:
- Only consumers who actually bought a vehicle during the shutdown period were surveyed
- First-time buyer insights were captured and investigated
- Corresponding loyalty and conquest behaviors and rationale were analyzed
This survey provides insight into:
- Understanding the customer's omnichannel journey to purchase and pain points
- Understanding how retail formats enabled or hindered the customer journey
- Understanding the customer's reasons for remaining or switching brands
- Understanding the customer's expectations for their next vehicle purchase
Across seven markets - China, US, Germany, France, Italy, Spain, and UK - there are interesting differences to consider in prioritizing shorter-term tactical actions and setting longer-term strategies to improve customer engagement.
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- New EV entries nibbling away at Tesla EV share
- Ethnic Share in US Light Vehicle Market Reaches a Record 33%
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- When will the heartland embrace electric vehicles?
- Countdown to 2023: Sustained Passenger Vehicle Sales in October.
- Automotive Insights – Canadian EV Information and Analysis Q3 2022
- Countdown to 2023: Price hikes for electrified vehicles outpace combustion counterparts
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