Trend 3: Connectivity
Among those who are interested in connected vehicles, there is a relatively high level of interest in features that provide updates on maintenance, traffic/road safety and suggestions for safer routes. However, the willingness to pay extra for connected technologies remains comparatively low in developed markets.
Consumers surveyed in developing markets such as India, China and Southeast Asia are also more willing to pay for connected vehicle services compared to consumers surveyed in markets such as the United States, Japan and Germany.
- India: 71%
- China: 60%
- Southeast Asia: 55%
- Rep. of Korea: 33%
- US: 25%
- Japan: 23%
- Germany: 20%
Trend 4: Vehicle subscriptions
Against the backdrop of uncertain economic conditions causing concern for financial capacity, a significant number of younger consumers in many markets are at least somewhat interested in giving up vehicle ownership altogether in favour of a subscription model, but concerns about vehicle availability, total ownership cost and the perception of higher monthly fees persist.
Consumer interest in giving up vehicle ownership in favour of vehicle subscription (% very/somewhat interested) for 18- to 34-year-old respondents:
