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Old 8th May 2015, 15:39   #1
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Default Accenture: Study on car buyers & the internet

A recent study by Accenture has found out that a majority of the surveyed recipients wish to have a greater role of digital media during the car-buying process. Contrary to the older process where the car-buying experience was all about visiting multiple dealerships, test driving different vehicles, negotiating with the dealers for the best deal etc. car-buyers today have changed preferences.

The global survey was conducted among 10,000 car owners across 8 different countries - India, China, Brazil, France, Germany, Italy, Japan and the United States.

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Some key findings of this survey are as below:

India-specific findings
  • 84% of the drivers would choose to go through an entirely online procedure to buy a car, which includes financing, price negotiation, paperwork and home delivery of the vehicle.
  • 53% of the respondents claimed to have been influenced by car websites and online automotive publications, when making a car-buying decision.
  • 82% are interested in online financing and negotiations in the car-buying process.
  • 69% Indians claimed that free oil changes or maintenance options would influence the choice of buying/leasing a new car.

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Global findings
  • 80% of respondents looking to buy a new vehicle use some form of digital technology to research.
  • 62% initiate the car buying process online (which includes seeking help from social media channels) before visiting a car dealership.
  • 75% would consider their entire car-purchase process online. Interestingly, 92% of the Chinese respondents were 'for' this idea while 80% of the Japanese were 'against' it.
  • 63% would be interested in buying a new car via an online auction. 90% of the Chinese respondents were interested in this while 80%, 65% and 55% of Japanese, French and Germans were against the idea.
  • >50% respondents hopes that the automobile industry improves the online channels to make researching a new vehicle easier. Users are more interested in getting tailored information available online, more demonstrations and more sites which provide an opportunity for comparison shopping.
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Last edited by S2!!! : 8th May 2015 at 15:42.
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Old 8th May 2015, 16:23   #2
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Default Re: Accenture: Study on car buyers & the internet

The survey is very good news for Team-Bhp.

Nearly 50 to 55% of the purchase is through "influencers", - Online websites / family & friends.
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Old 8th May 2015, 17:10   #3
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Default Re: Accenture: Study on car buyers & the internet

Quote:
Originally Posted by S2!!! View Post
India-specific findings
  • 69% Indians claimed that free oil changes or maintenance options would influence the choice of buying/leasing a new car.
Classical example of dissonance between stated and behavioral preferences.

Neither Maruti nor Hyundai offer such a freebie (maximum MSIL gives is a bit of a lumpsum discount on purchase of a set of services) - while Chevrolet which has been selling all-in maintenance packages since 2008 or so.
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Old 10th May 2015, 20:02   #4
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Default Re: Accenture: Study on car buyers & the internet

This is fantastic! Thanks for sharing. Is there a place online where I could download this study? or could find similar studies?
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Old 11th May 2015, 10:43   #5
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Default Re: Accenture: Study on car buyers & the internet

Nice one S2.
Is this document from Accenture available on the public domain?
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Old 11th May 2015, 10:46   #6
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Default Re: Accenture: Study on car buyers & the internet

Quote:
Originally Posted by EP. View Post
This is fantastic! Thanks for sharing. Is there a place online where I could download this study? or could find similar studies?
Quote:
Originally Posted by jkrishnakj View Post
Nice one S2.
Is this document from Accenture available on the public domain?
As requested, you could visit this link and find the entire study.
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Old 11th May 2015, 11:40   #7
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Default Re: Accenture: Study on car buyers & the internet

How can anyone actually complete the whole car buying process completely online?
Are the survey takers in their right frame of mind?
What about the demo cars being pushed to the customers?
What about the countless stories about lemons being pushed to the customers?
Unless the courts and justice system improves in India - this may turn out to be a bad way to do business.

The only thing great about online is that being the lazy sloppy fool, I can have comparative prices at my palms in a jiffy. Nothing else is really convenient.
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Old 11th May 2015, 16:03   #8
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Default Re: Accenture: Study on car buyers & the internet

Quote:
Originally Posted by alpha1 View Post
How can anyone actually complete the whole car buying process completely online?
Are the survey takers in their right frame of mind?
What about the demo cars being pushed to the customers?
.
Of course, if everybody buys online there wont be any demo cars left to push to the customer.

Still, I have the same feeling when reading this survey, it just doesnt tally up with my own thoughts/understanding/experience. Now of course, you need to very carefull not to extrapolate one's own preferences.

But lets face it, for most people buying a car is, next to buying a house, the most expensive purchase they make. Are we really going through the internet on that one, without seeing it for real.

I'm already nervous for the odd second hand car I've bought over the years via Ebay and none of those were anywhere priced near the cost of a new car.

Time will tell.
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