Table of Contents
Executive Summary
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- Overview
- What automakers want to know
- Consumers have developed strong relationships with brands
- Where automakers can succeed
- Look to unconventional partnerships to tap into new markets
- Consumers are looking to deeply connect with brands
- What it means
The Market – What You Need to Know
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- Global negations will continue to affect vehicle prices
- Consumer confidence maintains six-month high
Market Factors
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- Rising gas prices to affect how consumers view vehicles
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- Figure 1: US gasoline and diesel retail prices, January 2009 – January 2019
- Consumer confidence hits six-month high
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- Figure 2: Consumer confidence index, January 2009 – January 2019
- Rising vehicle costs dependent on foreign relations
Vehicle Sales by Brand
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- Total new vehicle sales by brand
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- Figure 3: US auto sales by brand performance, May 2019
Key Players – What You Need to Know
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- Meet the new Detroit auto company to take on Tesla
- Audi looks forward to a future lineup with more EVs
- GM and Michelin disrupt the tire market
What’s Happening?
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- The EV market is preparing to enter the truck segment
- What would the FCA and Renault merger it have meant for the auto industry?
- Audi cuts models to make room for EVs
What’s Struggling?
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- EVs “clean” brand perception comes under attack once more
- Ford to cut workforce by 10%
- Despite a seemingly losing battle, Honda fights for sedans
What’s Next?
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- GM and Michelin plan to bring airless tires to passenger cars by 2024
- BMW introduces new Curved Display, soon other brands will follow
- New automaker Rivian to step in to electric vehicle market
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- Figure 4: Rivian Twitter, June 2019
The Consumer – What You Need to Know
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- Consumers form brand perceptions with little influence from family or friends
- “American made” no longer carries weight with consumers
- According to consumers, auto brand perception overlaps by attribute
- Female car buyers are more likely to show brand loyalty
- Toyota needs to work on its presence as a technologically driven auto brand
Influencing Brand Perceptions
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- Price remains most influential factor in brand perceptions, followed by previous experience
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- Figure 5: Top influential factors, April 2019
- Recent vehicle experience more influential on brand purchase than ownership
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- Figure 6: Next vehicle brand consideration, by purchase intent, April 2019
- Previous experience less influential for consumers about to purchase a vehicle
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- Figure 7: Previous experience as purchase influencer, by purchase intent, April 2019
- Consumer perception less likely to be influenced by outside opinions
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- Figure 8: Family and friends brand influence, April 2019
- Gas mileage more important when purchasing, not a significant factor in brand perception
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- Figure 9: Gas mileage as perception influence, April 2019
- Older generations more likely to consider previous brand experience
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- Figure 10: Perception by previous brand experience, by generation, April 2019
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- Figure 11: Perception by previous brand experience, by age, April 2019
Brand Perceptions
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- Consumers group brands by attributes
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- Figure 12: Correspondence Analysis – Symmetrical map – Brand perceptions, April 2019
- Domestic brands perceived higher by younger generations
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- Figure 13: Auto brand attributes, by age, April 2019
- Consumers view foreign brands as safer, higher quality and more affordable
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- Figure 14: Auto brand attributes, by foreign vs domestic, April 2019
- Figure 15: Chevrolet Emoji Press Release, June 2015
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- Figure 16: Ford, Tough Has More Fun, March 2019
- Figure 17: Rural brand attribute associations, April 2019
- Toyota is still popular among consumers, but perceived as being technologically behind
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- Figure 18: Toyota brand attribute associations, April 2019
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- Figure 19: Toyota brand attribute associations, April 2019
- Chevrolet is the most trusted brand by young consumers
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- Figure 20: Chevrolet brand attribute associations, by generation, April 2019
- Kia unable to shed perception as a “budget” brand
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- Figure 21: Kia attribute associations, April 2019
Female Consumer Brand Perceptions
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- Why do female consumers matter?
- Women highly likely to consider safety as a top influencer, despite low ownership rates of advanced safety technology
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- Figure 22: Top brand perception influencer, by gender, April 2019
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- Figure 23: Autonomous vehicle technology ownership, by gender, April 2019
- Women slightly more likely to be brand loyal
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- Figure 24: Attitudinal statements about car brands, by gender, April 2019
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- Figure 25: Equinox Gym x Athleta, Hosted Event, April 2019
- Women view foreign auto brands as higher quality
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- Figure 26: Auto brand quality, by foreign or domestic automaker, April 2019
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- Figure 27: Auto brand quality, by foreign or domestic automaker, April 2019
Appendix – Data Sources and Abbreviations
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- Consumer survey data
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – The Consumer
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- Short-term consumers more likely to consider celebrity and influencer marketing
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- Figure 28: Celebrity and online influencer, by purchase intent brand perceptions, April 2019
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- Figure 29: Celebrity and online influencer, by millennial purchase intent brand perceptions, April 2019
- Asian consumers are best target for brand conquesting
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- Figure 30: Consideration of multiple brands, by race, April 2019
- Black consumers show high intent of buying American-made vehicles
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- Figure 31: Consideration of foreign or domestic automaker, by race, April 2019
- Asian consumers believe that their car brand is a direct reflection of self
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- Figure 32: Self-perception of auto brands owned, April 2019
- Black consumers perceive American-made vehicles to be of higher quality
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- Figure 33: Auto brand quality by foreign or domestic automaker, April 2019
Appendix – Foreign vs Domestic
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- What makes an automaker foreign as opposed to domestic?
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