Automotive Market Research Reports and Industry Analysis

Automotive Market Research Reports and Industry Analysis

Automotive Market Research Reports and Industry Analysis

Automotive market research reports cover all aspects of the automotive industry. They can cover general terms as well as specific terms like aftermarket, automotive electronics, or automotive parts. Automotive market research can also be done in specific areas, dealerships, names of companies, and model types. You can find an industry analysis for the European market or the North American markets. You should invest in a market report for the region if you’re searching for a car.

Automotive market research can be done in person

Another common method of conducting market research in the automotive industry is through focus groups. Focus groups use high-quality still images to collect information from participants about a certain vehicle. Participants are asked questions about specific features of the vehicle. These focus groups provide valuable information that can be used to modify existing models or test new features. These insights can be used to make better business decisions for automotive manufacturers.

Automotive Market Research Reports and Industry Analysis
Automotive Market Research Reports and Industry Analysis

The automotive industry is globally competitive, credit-sensitive and environmentally important. It has undergone a rethinking of the definition of a vehicle to better meet consumer needs. The industry needs to find new ways to design cars and improve their marketing efficiency. But how can they do that? They should use the power of customer information platforms and begin to utilize their data. This is however much easier said than done.

Automotive ratings research can be done in person

Using traditional methodologies, the Decision Analyst conducts consumer research in person. These in-person sessions are used to gain insight into Light Vehicle Owners’ preferences. The American Consumer Opinion(r) is a global internet panel comprised of consumers in more than 200 countries. The panel provides information about vehicle prices by major markets. The Decision Analyst uses traditional automotive research methods as well. The Decision Analyst Advanced Analytics Team supports automotive clients with developing consumer insights for new products or services.

In-person approaches to automotive CX/UX Research

Despite technological advances, the automotive industry continues to fall behind its digital counterpart. Archaic sales techniques, rigid approaches and vast quantities of paperwork hinder the buying journey and do not reflect the realities of today’s marketplace. These five trends in automotive CX/UX research will help you meet customer expectations and keep up with the changing technology. Omnichannel customer experience is about seamlessly integrating digital and in-store experiences.

The world of mobility is changing, but the automotive industry isn’t ready for such a drastic shift. The success of the automotive industry has always been tied to a superior product. While millennials are less interested in car ownership, retention rates remain static. This shift suggests that superior products are no longer enough. Customer experience is now the king. OEMs must adapt to changing customer preferences, expectations and behaviors to remain competitive.

Automotive market research: Challenges

In addition to the challenges presented by the changing automotive market, manufacturers are facing new challenges as they adapt to the future. Technological advancements have led to rapid changes in the automotive industry, including the development and production of electric vehicles and autonomous driving cars. These new developments present a challenge for traditional automotive players. They need to align their skills with the processes required to address them. Other new challenges include cybersecurity and data privacy, continuous product updates, and new business models.

Apart from increased competition and globalization, the automotive industry is becoming more competitive. Traditional vehicle sales are falling as consumers become more interested in on-demand mobility solutions. The development of advanced driver assist systems has prompted new regulatory policies in key markets. The increasing electrification of vehicles has opened up a new path for vehicle manufacturers, and stakeholder investments have been pouring money into developing battery technologies and hybrid technologies.