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.
- Does the acquisition of Arm give NVIDIA the keys to autonomous driving?
- Automotive COVID-19 Recovery Series: The OEM Landscape
- David Goggins joins IHS Markit as Vice President, Automotive Strategy and Industry Insights
- Analysis of 2020 H1 US New Vehicle Registration Data
- Fuel for Thought: Automotive Retail - The Path Forward
- US light-vehicle sales decline 12 percent year-over-year in July
- Average age of US light trucks and cars approaches 12 years
- Fuel for Thought: The COVID Recovery