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Understanding the 2020 Vehicle Buyer Journey

14 September 2020

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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