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65% Customers want Electric Vehicles to Look Exceptional
08-Apr-2019
South Asia, Middle East & North Africa
Market Research
ME69-01-00-00-00
AU01821-SA-MR_23007
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
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)
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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
| Deliverable Type | Market Research |
|---|---|
| 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 |
Understanding Indian Consumers’ Priorities, Preferences and Willingness to Purchase Hybrid and Electric Vehicles, 2017
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