2024 Global Automotive Consumer Study: EMEA focus countries

Earlier this year, we launched our 2024 Global Automotive Consumer Study, where we surveyed more than 27,000 consumers in 26 countries to explore opinions regarding a variety of critical issues impacting the automotive sector, including consumer interest in electric vehicles (EVs), brand perceptions, and connected technology adoption.

In this 2024 Global Automotive Consumer Study: EMEA focus countries report, we focus on the survey results from Austria, Belgium, France, Germany, Italy, Poland, Saudi Arabia, South Africa, Spain, Turkey, and United Kingdom. The report shares key insights that can help companies prioritize and better position their business strategies and investments in the year to come.

The four key trends that emerged are:

1. Vehicle electrification
2. Future vehicle intentions
3. Connectivity
4. Vehicle subscriptions

Key findings from the report:

• Is slowing EV momentum putting decarbonization timelines in jeopardy? High interest rates and elevated sticker prices may be causing consumer interest in EVs to soften in most markets. Despite OEM price cuts and government incentives designed to make them more affordable, a variety of other challenges continue to stand in the way, including range anxiety, charging time, and availability of charging infrastructure.
• A significant number of consumers may be thinking about switching vehicle brands: Price tops the list of factors driving the choice of vehicle brand for consumers in Austria, Belgium, France, Germany, Italy, and the UK while product quality is top of mind in other EMEA markets such as Poland, Saudi Arabia, South Africa, Spain, and Turkey.
• Interest in connectivity features may not fully translate into revenue and profit: There is a relatively high level of consumer interest in features that provide updates on vehicle maintenance, road safety, and traffic congestion. However, the willingness to pay extra for connected technologies remains comparatively low in most EMEA markets, except Saudi Arabia, South Africa, and Turkey.
• A significant number of younger consumers may be interested in giving up vehicle ownership for a subscription, but lingering concerns remain: Due to the backdrop of uncertain economic conditions causing concern for financial capacity, younger consumers in many EMEA markets may be interested in giving up vehicle ownership altogether in favor of a subscription model. However, concerns about vehicle availability and total ownership cost persist.

For more details on these evolving automotive consumer trends, download the full 2024 Global Automotive Consumer Study.