Understanding Indian Consumers’ Priorities, Preferences and Willingness to Purchase Hybrid and Electric Vehicles, 2017

Understanding Indian Consumers’ Priorities, Preferences and Willingness to Purchase Hybrid and Electric Vehicles, 2017

65% Customers want Electric Vehicles to Look Exceptional

RELEASE DATE
08-Apr-2019
REGION
South Asia, Middle East & North Africa
Research Code: ME69-01-00-00-00
SKU: AU01821-SA-MR_23007

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Description

Understanding consumer needs is quintessential for driving future mobility developments. This research focuses on consumer awareness and their willingness to pay for hybrid vehicles and electric vehicles (EVs). The respondents were questioned based on numerous factors such as technology awareness, preferred vehicle range, features, ease of charging, usage pattern, resale value, low noise and vibration, inexpensive to purchase, very low/ zero emissions, sporty performance, tax credits and other incentives to understand what motivates them to consider purchasing a hybrid and electric vehicle.

Key Features

Key takeaways of the study include:

  • There is a considerable difference between customers’ understanding about a certain technology and their actual awareness. There is a need to create awareness of technologies to build understanding and interest.
  • Although reliability and safety are the most important factors for choosing a vehicle, car owners more often take into account the performance and personalization of the vehicle as they are paying a premium over a conventional vehicle.
  • Electric range is a higher priority compared to performance and the preferred range is between 100 km and 150 km (90% of customers wanted a minimum 100 km range from EVs).
  • Customers are welcome to the idea of battery leasing scheme (due to its lower initial cost) and free quick-charging points in all petrol stations. Electric range, fuel economy, easy availability of the charging station, usage pattern, low cost of ownership, good resale value, low noise and vibration, inexpensive to purchase, very low/ zero emissions, sporty performance, tax credits and other incentives, India consumer research, Indian consumer willingness to pay, hybrid and electric vehicle consumer research. Technology - reliability, fuel economy, range, easy availability of the fuel, good everyday performance, low cost of ownership, good resale value, low noise and vibration, inexpensive to purchase, very low/ zero emissions, sporty performance, tax credits and other incentives, electric vehicles. 65% of customers want EVs to look different. At the same time, they (40%) want the EVs to be priced below the price of a conventional vehicle. Industry challenges - Consumer perception on electric vehicle technology, range anxiety, and value addition offered by electric models have negatively impacted sales growth of EVs. Thus, OEMs are standardizing fast chargers for every EV model and exploring opportunities in vehicles with longer range and offering competitive pricing as compared to conventional vehicles. A minimum 100 km driving range for an EV will meet the range requirements of 90% of Indian consumers. About 75% of the customers are willing to pay higher for the benefits but are concerned about certain factors such as high maintenance cost.

Author: Prajyot Sathe


Table of Contents

Unaided Technology Awareness—Summary

Unaided Technology Awareness—Overall

EV—Concerns, Benefits, and Acceptable Range

FHEV—Concerns and Benefits

MHEV—Concerns and Benefits

Mission 2030—Customer Opinion: By City Type

India Vs. Delhi—A Comparison

Product Segmentation

Research Objectives

Research Methodology

Methodology and Sample Design

Key Questions this Study will Answer

Key Product Requirements—EVs and FHEVs

EVs

FHEVs

MHEVs

Unaided Technology Awareness—Summary

Unaided Technology Awareness—Overall

Unaided Technology Awareness—Battery Electric Vehicles (BEVs)

Unaided Technology Awareness—FHEVs

Technology Awareness—MHEVs

Actual Model Awareness—Overall

EV—Concerns, Benefits, and Acceptable Range

EV—Key Perceived Benefits

EV—Key Perceived Benefits: City Type Wise

EV—Key Perceived Benefits: Age Wise

EV—Key Perceived Benefits: Segment Wise

EV—Key Perceived Concerns: Overall

EV—Key Perceived Concerns: City Type Wise

EV—Key Perceived Concerns: Segment Wise

EV—Key Perceived Concerns: Segment Wise (continued)

EV—Addressing Concerns

EV—Addressing Concerns: City Type Wise

EV—Acceptable Range: Overall

EV—Acceptable Range: City Type Wise

EV—Need for Differentiation and Willingness to Pay

EV—Need for Differentiation: Overall

EV—Need for Differentiation: City Type Wise

EV—Willingness to Pay: Overall

EV—Willingness to Pay: City Type Wise

EV—Willingness to Pay: Age Wise

EV—Willingness to Pay: Segment Wise

EV—Willingness to Pay More: Overall

EV—Willingness to Pay More: City Type Wise

EV—Willingness to Pay More: Segment Wise

EV—Willingness to Pay Less: Overall

EV—Willingness to Pay Less: Age Wise

EV—Reason for Willingness to Pay Less: Overall

EV—Reason for Willingness to Pay Less: City Type Wise

EV—Need for Differentiation and Willingness to Pay

EV—Expected Usage

EV—Preferred Brand

EV—Preferred Brand (continued)

FHEV—Concerns and Benefits

FHEV—Key Perceived Benefits

FHEV—Key Perceived Benefits: City Type Wise

FHEV—Key Perceived Benefits: Age Wise

FHEV—Key Perceived Benefits: Segment Wise

FHEV—Key Perceived Concerns: Overall

FHEV—Key Perceived Concerns: City Type Wise

FHEV—Addressing Concerns

FHEV—Addressing Concerns: City Type wise

FHEV—Need for Differentiation and Willingness to Pay

FHEV—Need for Differentiation: Overall

FHEV—Need for Differentiation: City Type Wise

FHEV—Willingness to Pay: Overall

FHEV—Willingness to Pay: City Type Wise

FHEV—Willingness to Pay: Age Wise

FHEV—Willingness to Pay: Segment Wise

FHEV—Willingness to Pay More: Overall

FHEV—Willingness to Pay More: City Type Wise

FHEV—Willingness to Pay Less: Overall

FHEV—Reason for Willingness to Pay Less: Overall

FHEV—Reason for Willingness to Pay Less: City Type Wise

FHEV—Usage and Brand Preference

FHEV—Expected Usage

FHEV—Preferred Brand

FHEV—Preferred Brand (continued)

MHEV—Concerns and Benefits

MHEV—Key Perceived Benefits

MHEV—Key Perceived Benefits: City Type Wise

MHEV—Key Perceived Concerns: Overall

MHEV—Key Perceived Concerns: City Type Wise

MHEV—Addressing Concerns

MHEV—Addressing Concerns: City Type Wise

EV—Need for Differentiation and Willingness to Pay

MHEV—Need for Differentiation: Overall

MHEV—Willingness to Pay: Overall

MHEV—Willingness to Pay: City Type Wise

MHEV—Willingness to Pay: Age Wise

MHEV—Willingness to Pay: Segment Wise

MHEV—Willingness to Pay More: Overall

MHEV—Willingness to Pay More: City Type Wise

MHEV—Willingness to Pay More: Age Wise

MHEV—Willingness to Pay Less: Overall

MHEV—Willingness to Pay Less: City Type Wise

MHEV—Willingness to Pay Less: Age Wise

MHEV—Reason for Willingness to Pay Less: Overall

Final Purchase Intention & EV Mission 2030

Final Purchase Intention—Overall

Final Purchase Intention—EV: City Type Wise

Final Purchase Intention—EV: Segment Wise

Final Purchase Intention—FHEV: City Type Wise

Final Purchase Intention—FHEV: Age Wise

Final Purchase Intention—MHEV: City Type Wise

Preferred Body Type—Overall

Preferred Body Type—FHEV

Preferred Body Type—MHEV

Mission 2030—Customer Opinion

Mission 2030—Customer Opinion: Age Wise

Mission 2030—Customer Opinion: City Type Wise

India Vs. Delhi—A Comparison

Growth Opportunity—Convert the interest in xEVs to Sale

Strategic Imperatives for Consumer Interest in xEVs

Key Conclusions

Legal Disclaimer

Market Engineering Methodology

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
Understanding consumer needs is quintessential for driving future mobility developments. This research focuses on consumer awareness and their willingness to pay for hybrid vehicles and electric vehicles (EVs). The respondents were questioned based on numerous factors such as technology awareness, preferred vehicle range, features, ease of charging, usage pattern, resale value, low noise and vibration, inexpensive to purchase, very low/ zero emissions, sporty performance, tax credits and other incentives to understand what motivates them to consider purchasing a hybrid and electric vehicle.--BEGIN PROMO--

Key Features

Key takeaways of the study include:

  • There is a considerable difference between customers’ understanding about a certain technology and their actual awareness. There is a need to create awareness of technologies to build understanding and interest.
  • Although reliability and safety are the most important factors for choosing a vehicle, car owners more often take into account the performance and personalization of the vehicle as they are paying a premium over a conventional vehicle.
  • Electric range is a higher priority compared to performance and the preferred range is between 100 km and 150 km (90% of customers wanted a minimum 100 km range from EVs).
  • Customers are welcome to the idea of battery leasing scheme (due to its lower initial cost) and free quick-charging points in all petrol stations. Electric range, fuel economy, easy availability of the charging station, usage pattern, low cost of ownership, good resale value, low noise and vibration, inexpensive to purchase, very low/ zero emissions, sporty performance, tax credits and other incentives, India consumer research, Indian consumer willingness to pay, hybrid and electric vehicle consumer research. Technology - reliability, fuel economy, range, easy availability of the fuel, good everyday performance, low cost of ownershi
More Information
No Index No
Podcast No
Author Prajyot Sathe
Industries Automotive
WIP Number ME69-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9967-A6,9882-A6,9AF6-A6