Recent study reveals shifts in consumer sentiment and trends amid most volatile automotive market ever
With uncertainty mounting, price is the single most important factor in purchase decision – significantly more so than previous years. However, consumers find value-related criteria such as drive technology and brand more important than price-related criteria overall.[Boston, U.S. July 6, 2023] –The 2023 Global Automotive Study*, conducted by global consultancy Simon-Kucher, reveals that a significant portion of car buyers across the world feel uncertain about the economic environment: half of those surveyed expect a decrease in purchasing power and three out of five customers say they