Wednesday, October 29, 2014

Deloitte study shows Generation Y as a pioneer when buying a car – PR Newswire (press release)

Munich (ots) – According to Deloitte Study “2014 Global Automotive Consumer Study” Generation Y has an unbroken strong interest in vehicles. A majority of young consumers planning to buy a car within the next year. The topic of pricing plays a very important role – besides are especially technological innovations crucial criteria. Generation Y In addition, a significant increase expected in the dissemination of alternative drives and wishes to progress in vehicle safety. When buying a car it counts for the advice of friends and family more than reports from independent sources and Internet media. In total, more than 23,000 consumers from 19 countries took part in the study – of which more than 8,500 from Europe, 1,004 from Germany.

“The young generation has enormous potential for the automotive industry – more than many other age groups,” says Dr. Thomas Schiller, Head of Automotive at Deloitte. “But manufacturers must increasingly deal with the wishes and needs of these future customers and invest for example in autonomous driving systems.”

Low Cost decisive factor

Approximately 75 percent of the European plan generation Y to buy in the next five years, an automobile – even 54 percent within the next three. The main criteria for purchasing decisions are among German consumers fuel efficiency (38%) and purchase price (37%). Europe especially low maintenance / repair costs and practicality of the vehicle are important – equipment, technology and environmental friendliness are subordinate to price and value.

trend towards alternative propulsion

Already, 44 percent of European consumers believe that they will be driving in five years an automobile with alternative drive. For 71 percent of Gen Y are even willing to spend more money. Owned by automobiles with gasoline or diesel engine will see in future only 29 or 27 percent – this is in contrast to their current market share. Within the alternative drives especially hybrid concepts are seen in front: 28 percent of respondents believe they are driving a hybrid engine in five years (Germany: 26%).

desire for security technologies

New technologies will also bring significant benefits: 88 percent of Germans see that through technological accident prevention, 79 percent in fuel efficiency. The Gen Y innovation advocates stronger than in the cockpit technologies in security technology. Across Europe, 70 percent want technologies that detect other vehicles. Depending nearly two-thirds want to protect systems that will help you become a better driver, warn when the speed limit is exceeded or automatically from dangerous traffic situations. Each around 60 percent are under the German respondents.

Gen Y trusts autonomous driving systems

Three-quarters of European consumers (Generation Y: 72%) are in driver assistance systems, such as anti-lock brakes and traction control interested. Advanced features, such as cruise control or lane departure warning, push both young consumers as well as other age groups with nearly 60 percent on the same strong interest. Fully automatic driving cars in favor, 39 percent of Gen Y, outside of any third party.

car buyers trust their environment and the Internet

When deciding which car to buy, consumers take a long time. More than half spend more than ten hours trying to form an opinion. In the German Gen Y is as high as 60 percent. Important influence groups for young car buyers in this country friends and family: 56 percent trust their environment, especially next to independent test reports on the Internet (40%) and in the traditional media (38%).

“The study shows that young car buyers expect from automobile manufacturers,” commented Thomas Schiller. “Alternative Drives and modern technologies are positioned to benefit from the enormous potential of Generation Y, but you have to be low.”

To see the full report, see to download.

About Deloitte

Deloitte provides services in the areas of audit, tax, consulting and corporate finance for companies and institutions from all sectors of the economy; Legal advice is provided in Germany by Deloitte Legal. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class expertise and services and helps its clients to address complex business challenges. “To be the standard of excellence” – for more than 200,000 employees of Deloitte’s vision and individual entitlement at the same time.

The employees of Deloitte have a corporate culture committed based on four core values: absolute integrity, first class service, mutual support and cultural diversity. They work in an environment that offers challenging tasks and inclusive development, and in which every employee actively and responsibly contributes to the trust of customers and the public meet.

Deloitte refers to Deloitte Touche Tohmatsu Limited (“DTTL”), a “private company limited by guarantee” (limited liability company under UK law), its network of member firms and their affiliates. DTTL and each of its member firms are legally separate and independent entity. (Also referred to as “Deloitte Global”) DTTL does not himself make transactions with other clients. A more detailed description of DTTL and its member firms find

© 2014 Deloitte GmbH auditing firm.


 Isabel Milojevic Head of Press Tel: +49 (0) 89 29036 8825 

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