What consumer trends will have the most impact on the automotive industry in the coming year? Our Global Automotive Consumer Study reveals key insights into the habits of Belgian consumers that can help automotive companies overcome challenges to thrive.
From September through October 2022, Deloitte surveyed more than 26,000 consumers in 24 countries, including 1,019 consumers in Belgium, to explore opinions regarding a variety of critical issues impacting the automotive sector. The 2023 Global Automotive Consumer Study, the 13th annual report, provides important insights that can help companies prioritise and better position their business strategies and investments in the year to come.
Belgian consumers are increasingly interested in electric vehicles, with one in two stating that they would opt for an electric vehicle next. They are motivated by lower fuel costs, less maintenance, extra taxes on traditional engines, government incentives, and a better driving experience. However, there are a variety of challenges standing in the way, including affordability, range anxiety, charging time, and the availability of charging infrastructure.
Most consumers planning to buy an electric vehicle plan to charge their vehicle at home leveraging an alternative power source. However high installation costs remain a concern opening the door for finance providers to offer a home-charging solution.
Surveyed consumers prioritise convenience when it comes to finding a public charging location, with the majority wanting amenities such as restrooms, Wi-Fi connectivity, and quick beverages.
Only 8% of Belgians expect to wait less than 10 minutes to charge their car at a public location, while more than half would wait 10 to 40 minutes for their vehicle to charge.
With one in two consumers preferring to pay for public electric vehicle charging via credit/debit card payments, there is clearly a need to standardise the public charging experience to maximise utility and convenience.
Belgians prefer new cars with 49% planning to buy new, compared to 34% going for used. Reliability and manufacturer warranty are the primary reasons for choosing a new vehicle. Those planning to buy used cite affordability and value for money as the main reasons.
Consumers trust their purchasing/service dealership the most, signalling that they succeed in building strong customer relationships.
Out of the consumers who acquired a new vehicle, 76% routinely take it back to the dealer to be serviced, whereas only 34% of used vehicle owners do the same.
On one hand, consumers trust dealers and original equipment manufacturers (OEMs) the most to manage the data generated by their vehicle. On the other hand, 28% of consumers don’t trust anyone.