Price is the top brand choice criterion for consumers in the markets of Germany (55%), Japan (58%) and the United States (59%), while product quality is number one for consumers in India (65%) and Southeast Europe. Asia (62%), and vehicle characteristics for buyers in China (53%) and South Korea (55%), according to the Deloitte Global Automotive Consumer Study 2024.

At the same time, internal combustion engine cars are returning to growing consumer preferences in certain markets, namely the US (67%, up from 58% in 2023), Southeast Asia (52%, up from 50%) or Germany ( 49 %, from 45% in 2023).

Those who choose an electric car argue for lower fuel prices in the US (66%), Japan (62%) or Germany (50%), concern for environmental protection and lower maintenance costs in India (68). %, respectively 56%).

“The slowdown in electric vehicles is not yet very visible in Europe, where sales have recorded strong annual growth rates, at least for battery and hybrid models (37% and 30% respectively in 2023 compared to 2022), according to European data. Association of Automobile Manufacturers. However, in the last month of last year, we witnessed a slowdown, perhaps influenced by the German market, where there is a reverse trend towards internal combustion cars. In Romania, sales of electric vehicles increased by more than 50% in the first 11 months of 2023, exceeding 10% of the market, but the evolution is uncertain, given the halving of state subsidies for these vehicles,” Ciprian said. Gavriliu, Fiscal Services Partner, Deloitte Romania.

When it comes to battery electric vehicles, survey respondents are generally concerned about charging time, range, price and the potential cost of battery replacement.

In addition, for these cars, the majority of surveyed consumers are concerned about the impact of batteries on the environment – India (89%), Southeast Asia (77%), Korea (69%), China (66%), Germany (64%), USA (62%), Japan (57%) – indicating to industry players that they need to implement sustainable practices in the use and recycling of these components.

Additionally, an automotive brand’s commitment to environmental practices is important and very important to consumers in India (56%), China (50%), and Southeast Asia (39%), and somewhat important to consumers in Japan (54%). Korea (41%), Germany (40%) or the USA (36%).

In terms of willingness to pay for technology features that allow the vehicle to connect to certain information sources, it remains high among consumers in India (71%), China (60%) or Southeast Asia (55%) and lower for consumers from Germany (20%), Japan (23%) or the USA (25%).

Approximately 27,000 consumers from 26 countries participated in Deloitte’s Global Automotive Consumer Study 2024, including nine European countries – Austria, Belgium, France, Germany, Italy, Great Britain, Poland, Spain and Turkey.

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