Driving Dynamics Vastly Influence Car Purchase Decisions in Europe, Finds Frost & Sullivan
Consumers gravitate towards vehicles with speed-sensitive steering and traction
LONDON, April 23, 2015 /PRNewswire/ -- Driving dynamics play a huge role in the purchasing decisions of vehicle owners in Europe. While safety and reliability are top priorities, driving dynamics-related capabilities such as manoeuvrability and ride quality rank high in importance among consumers looking to buy a car.
New analysis from Frost & Sullivan, European Consumers' Attitude towards Driving Dynamics Technologies (https://www.frost.com/mabc), finds that urban male customers are willing to pay a higher than average price to upgrade driving dynamics technologies. Women with higher than average income are most often prepared to pay a premium for safety features.
For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/EU_PR_KFeick_MABC-18_25Mar15.
"Consumers across car segments agree on the top features required for an improved driving experience," said Frost & Sullivan Automotive and Transportation Program Manager Prana T Natarajan. "Secure handling, road-holding, and control over braking and steering are significant cogs in the wheel of consumer expectations."
E&F segment car owners value steering handling more than smoothness of drive and powertrain features more than fuel or price. Smaller vehicle segment consumers too show interest in and willingness to pay for all-wheel drive (AWD) functionalities.
The inclination to pay drops significantly with the increase in price of steering, suspension and AWD technologies. Most consumers in Europe give more importance to value for money and hence look for optimally-priced solution packages.
"Technology providers must deploy appropriate pricing strategies to accelerate adoption rates," suggested Natarajan. "Bundling is likely to be an effective way for driving dynamics solution suppliers to maximise profits on installed systems and attract potential consumers in Europe."
Autonomous driving, the connected car and cyber security are just a few of the current trends in the automotive and mobility space, which will be discussed during Frost & Sullivan's annual industry event "Intelligent Mobility: Future Business Models in Connected and Automated Mobility" (http://ow.ly/LkwXD), taking place at the House of Lords and the Royal Garden Hotel in London on 1st and 2nd July 2015. For more information, media partnership opportunities or press passes, contact Katja Feick, Corporate Communications, on [email protected].
European Consumers' Attitude towards Driving Dynamics Technologies is a Customer Research that is part of the Automotive & Transportation (http://www.automotive.frost.com) Growth Partnership Service program. Based on an online survey of 1,824 car owners in Germany, United Kingdom, France and Russia, this study determines consumer perceptions on vehicle driving dynamics and the role of new chassis technologies in improving driving pleasure. The study also evaluates consumer willingness to pay for these features and offers recommendations to original equipment manufacturers and suppliers.
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European Consumers' Attitude towards Driving Dynamics Technologies
MABC-18
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