According to a global automotive survey conducted by KPMG LLP, fuel efficiency, safety innovation and vehicle styling are now the most important product issues that influence consumer purchase decisions.
When asked to rate the importance of various product attributes, fuel efficiency was the most frequently cited in the 2011 survey by an incredible 91 per cent. It was significantly ahead of safety innovation at 82 per cent, vehicle styling at 77 per cent and environmental friendliness at 75 per cent.
Customers were also asked which vehicle categories will see global sales increase over the next five years – hybrid vehicles were the most frequently cited at 84 per cent; ahead of electric vehicles at 77 per cent; and other alternative fuel vehicles at 63 per cent. This is despite the fact that it was actually SUVs, large pick-up trucks and crossovers that have enjoyed the most significant increases since the previous survey in 2010, while responses for hybrid vehicles actually dropped.
In addition, the KPMG survey found that that auto industry will heavily invest in future technology with manufacturers to focus on new products, powertrain technology and improvements to safety performance.
However, despite the apparent focus on electric cars, seven in 10 said the auto industry won’t be able to offer an electric vehicle that is affordable as traditional fuel vehicles for at least four years.
The most effective ways to make electric vehicles affordable are seen to be government subsidies and automakers partnering with energy providers to generate after-sales revenues on e-components.
