COVID-19 coronavirus has disrupted the way businesses were being operated and now every individual or company is trying to find a new normal.
Mobility is going through under a complete overhaul as public transport seems risky for many consumers because of the virus spread. Individuals are now strongly considering to own vehicles to maintain personal hygiene and social distancing.
According to a survey done by Capgemini Research Institute, about 35% of the consumers worldwide are considering purchasing a car in 2020. Indian consumers are most bullish about their car purchase after the Chinese. Their number is much higher than the global average of 35 percent.
The survey was done in 11 different countries and collected responses of more than 11,000 consumers, representing about 62 percent of worldwide annual vehicle sales and found that health and safety concerns will continue to modify consumer behavior even after the end of the crisis.
If the survey stands true in any sense, then the Chinese and the Indian car market will bounce back much faster than the anticipation after the prolonged decline of months.
Another concern that will probably rise over the auto dealers is that the prospective consumers want to minimize dealer visits and use the available online channels for purchases. Compared to pre-COVID levels, consumers have made a significant transition to digital modes of interaction.
Many automakers have already stepped up to take benefit of digital car sales, even though the dealerships are concerned regarding the rentals of the big showroom and large infrastructure created for customer visits.
46% of the global respondents said that they would prefer to avoid dealership visits to compare financing and deals. Of the highest, 71% Chinese consumers and 70% Indian consumers are of such preference.
The survey also revealed that 44 percent of consumers say that they will use their car more regularly and public transport less often and at least 40 percent said they will make less use of ride-hailing and ride-sharing services. The major reason behind this shift is worries over health and safety.
Furthermore 66 percent of potential buyers are looking for health and wellness features, which would include air conditioning with germ filters, and, 59 percent of possible buyers are willing to pay a premium for health and wellness functions.
