Monday, May 11, 2015

Car buying trends of modern customers revealed

Car buying trends of modern customers revealed

While buying a car earlier, most people relied on word of mouth suggestions made by family members or friends. But, with the changing global scenario where digitalisation has become a part of our life, time is changing for better. People refer to several automotive portals before making a car buying decision as online portals provide an easier access to information while on the go. Global consulting firm, Accenture, conducted a worldwide survey of 10,000 consumers across eight countries including India to determine their digital experiences and expectations before, and during buying a car. The survey 'What Digital Driver wants' revealed the following car buying traits that an Indian customer shows:

1. Entire car buying process online

Indian customers state that they would go through the entire car buying process online with delivery of the car to the house

Eighty-four per cent of Indians said they would go through the entire car buying process online, including financing, price negotiation, the back office paperwork, and delivery to the house.

2. Influence of car websites

Indian customers admitted to being influenced by car websites

When making a car buying decision, 53 per cent of surveyors in India admitted that they are most influenced by car websites and online automotive publications.

3. Online Financing Negotiation

Indian customers are interested in online financing negotiation

Eighty-two per cent of the drivers surveyed in India are interested in online financing negotiation in the car buying process.

4. Maintenance options

Indian customers are of the opinion maintenance options influence the choice of buying a new car

Sixty-nine per cent Indians said that services such as free oil changes/ maintenance options would influence the choice of buying/leasing a new car.


Car buying trends of modern customers revealed

The global findings of the survey further reveal the following details:

1. Tailored information required

Indian customers want more tailored information online while buying cars

The global study points to the growing need for automotive original equipment manufacturers (OEMs) and dealers to increase their focus on online engagement with consumers. More than half the drivers surveyed said they want the industry to improve online channels in order to make researching a new vehicle easier. Customers are interested in getting more tailored information online, more virtual demonstrations and more sites that provide an opportunity for comparison shopping.

2. Access to an interactive touch display

Indian customers want access to an interactive touch display

With respect to dealer visits 53 per cent customers said they would be interested in access to an interactive touch display that provides information on the available models during a visit to a showroom, and 48 per cent would like to be able to take a virtual test drive at the dealership.

3. Weak links

Indian customers prefer availability of extra pricing options online


The survey found that consumers believe the aftersales process and the availability of extra pricing options online are the weakest links in the digital car buying experience, and about a fifth of the respondents believe these areas need to be improved.




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