NEW YORK, NY, USA, 27 February 2020—The 2020 European edition of Deloitte Global’s Automotive Consumer Study finds that interest in electric vehicles is accelerating across the region. It also reports that consumers are losing trust in the ability of traditional auto manufacturers to bring automated vehicles to market; instead, they are looking to technology companies and new players to take the lead.
“Stakeholders across the automotive industry are facing a significant challenge as consumer skepticism regarding some advanced technologies, such as self-driving vehicles, continues to develop,” says Joe Vitale, Deloitte Global Automotive Sector Leader. “Automakers need to rationalize capital allocation to ensure they can generate sustainable returns on invested capital as consumers shift gears to the realities of electrified vehicles.”
The Automotive Consumer Study provides insights into a variety of critical issues impacting the automotive sector. It is based on surveys from more than 35,000 driving-aged consumers in 20 countries around the world. Approximately 10,000 consumers from Austria, Belgium, France, Germany, Italy, the Netherlands, and the UK contributed their views for the European edition.
“Although interest in alternative powertrain technology continues to expand as fewer people want traditional internal combustion engines in their next vehicle, consumers in most countries are not willing to pay much more for an electric vehicle,” adds Thomas Schiller, European Automotive Leader, Deloitte Germany. “However, stricter CO2 limits in Europe and associated fines for automakers will shift the economics in favor of electric vehicles.”
Significant findings of the study:
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