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.”
“Deloitte,” “us,” “we” and “our” refer to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s approximately 415,000 people worldwide make an impact that matters at www.deloitte.com.
Deloitte Global Communications
Tel: +1 202 738 7586
Mobile: +1 202 734 3207