AutonomousConnected Vehicle

51% of Gen Y/Z users in India questioning the need for an owned vehicle: Deloitte

Deloitte has released its 2019 Global Automotive Consumer Study in which over 10,000 consumers across Australia, China, India, Japan, the Republic of Korea, and Southeast Asia shared their views on critical issues impacting the automotive sector. The report points out that consumers in India feel empowered trusting the power of digital solutions that make their commute safer.

Some significant findings of the report:

• 51% of Gen Y/Z users in India are questioning the need for an owned vehicle. Currently in India, 47% of consumers use their own vehicle everyday which is expected to increase to 50% in next three years.

• While 64% of consumers feel that media reports of accidents involving AVs(autonomous vehicles) have made them more cautious of the technology, 48% of Indians in 2019 agree that autonomous vehicles will not be safe.

• 48% of Indian consumers find relative comfort in original equipment manufacturers (OEMs) to manage the data being generated and shared by connected car.

• 70% of consumers are somewhat/very concerned about the concept of biometric data being captured and shared with external parties while indulging in connectivity.

• Consumers “pump the brakes” on interest in AVs – As the technology gets closer to scalable, real-world application, consumers are questioning if autonomous vehicles (AVs) are safe, which is causing some people to take a more cautious approach to the idea.

• Electric vehicles to revolutionise future of mobility – Electric vehicle (EV) demand is growing in Asia Pacific (AP) and the European Union (EU) due to supportive environmental policies, big-brand bets, and shifting consumer attitudes. But low fuel prices in North America (NA) are keeping consumers away

• Consumers may be reluctant to pay for connectivity – Consumer opinions are mixed while interest in time-saving features is high, but significant concerns remain over privacy and data security. Original equipment manufacturers (OEMs) also face an uphill battle getting people to pay for it.

• Mobility revolution faces significant headwinds – Overall consumer behavior is proving difficult to change. A shared mobility future may hinge on younger people that have fully embraced the precepts of a digitally enhanced existence.

Source: Press Release

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